REAL Life Cycle Cost Assessment of Offshore Wind Farm.

REAL Cost Wind Farm.

Not done in Estonia. Green accounting needed. Not included: decommissioning, (ice) risk, real wind, maintenance ect.

This study presents and discusses the whole life cycle cost analysis of an offshore wind farm in Kudat, Malaysia and determines the cost drivers of offshore wind energy developments. It covers the wind data collection and analysis, breakdown of whole life cycle cost structure, and calculation of the levelized cost of energy (LCOE). Results showed that almost 67% of the total cost was incurred by the capital expenditure (CAPEX), and around 26% by operation and maintenance costs (OPEX), while decommissioning costs (DECOM) reached up to 7% of the whole life cycle costs. The LCOE was calculated and determined to be USD 127.58/MWh.