Siemens eyes offshore wind LCoE below EUR 0.08/kWh by 2025
Siemens wind turbine blades. Source: Siemens. License: All rights reserved
German engineering major Siemens (ETR:SIE) believes that from 2025 onward its offshore wind farms will be generating power at an LCoE (levelised cost of energy) level below EUR 0.08 (USD 0.09) per kWh.
The price will include the costs for grid access to shore, Siemens said in a press statement on Wednesday.
The company’s current objective is to generate offshore wind power at a price below EUR 0.10/kWh by 2020 and it says that about 72% of this targeted cost reduction has already been achieved. Technical improvements within wind turbines, the installation process, new grid connection technologies, maintenance strategies and logistics account for nearly half of that, it added.
Siemens went on to say that the EUR-0.02 cost reduction over the following five years will come from the next generation of offshore wind turbines and foundations. It noted that in the event that rotor diameters and generator output rise by 10%, the annual energy output will grow by just as much under average offshore wind conditions.
The company is presently developing new foundations that will be tested at a Danish offshore project next year. The plan is to use gravity jacket foundations including a new concrete-based transition piece. At the same time, the grid structure will be assembled using prefabricated nodes and standard steel pipes. Currently, the company is testing the static strength and corrosion resistance of the nodes.