• Title/Summary/Keyword: Wind farm investment

Search Result 12, Processing Time 0.024 seconds

The Study of Onshore Wind Farm Suitability Analysis Process (육상풍력 적지분석 프로세스에 대한 연구)

  • Ko, Jung-Woo;Lee, Byung-Gul
    • Journal of Environmental Science International
    • /
    • v.25 no.3
    • /
    • pp.457-464
    • /
    • 2016
  • The most wind farm development process in Korea still have not been defined since the history of the wind farm development experiences are very short compared to EU and other developed countries. Therefore, most wind farm development company and researchers have a lot of trouble to implement the wind farm development and need a guideline for the process. Establishing the wind farm needs a complex processes such as transportation system, construction conditions, natural environment and wind conditions etc. Specially, for the restricted development area, the social negotiation and legal minds are necessary. In the case, the decision making process of suitable wind farm area using GIS tool is very useful. However, before using GIS technique, we should understand the development processes and the items for surveying tools. Recently, suitability analysis of selecting Onshore Wind Farm has been studied to consider exclusion analysis to solve the limited develop condition problem. This paper proposed the onshore wind farm development process which can suitable to Korea wind farm environment based on European guideline with GIS tool. To estimate the processes, the processes are divided into two parts, the basic design and wind farm planning. Next, the planning stages are classified into five stages in which the factors for each step were considered.

Economic Assessment of a Wind Farm Project Using Least Square Monte-Carlo (LSMC) Simulation (최소자승몬테카를로 시뮬레이션을 이용한 풍력발전설비 투자계획)

  • Kim, Jin-A;Lee, Jong-Uk;Lee, Jae-Hee;Joo, Sung-Kwan
    • The Transactions of The Korean Institute of Electrical Engineers
    • /
    • v.60 no.1
    • /
    • pp.32-35
    • /
    • 2011
  • The economic value of a wind farm project is influenced by various risk factors such as wind power output and electricity market price. In particular, there is uncertainty in the economic evaluation of a wind farm project due to uncertain wind power outputs, which are fluctuated by weather factors such as wind speed, and volatile electricity market prices. This paper presents a systematic method to assess the economic value and payback period of a wind farm project using Least Square Monte-Carlo (LSMC) simulation. Numerical example is presented to validate the effectiveness of the proposed economic assessment method for a wind farm project.

CFD Study on Aerodynamic Power Output of 6 MW Offshore Wind Farm According to the Wind Turbine Separation Distance (CFD를 활용한 6 MW 해상풍력발전단지의 풍력터빈 이격거리에 따른 공기역학적 출력 변화연구)

  • Choi, Nak-Joon;Nam, Sang-Hyun;Jeong, Jong-Hyun;Kim, Kyung-Chun
    • Journal of Advanced Marine Engineering and Technology
    • /
    • v.35 no.8
    • /
    • pp.1063-1069
    • /
    • 2011
  • This paper presents aerodynamic power outputs of wind turbine of 6 MW wind farm composed of 3 sets of 2 MW wind turbine according to the separation distance by using CFD. Layout design including offshore wind farm and onshore wind farm is key factor for the initial investment cost, annual energy production and maintenance cost. For each wind turbine rotor, not actuator disc model with momentum source but full 3-dimensional model is used for CFD and it has a great technical meaning. The results of this study can be applied to the offshore wind farm layout design effectively.

The Economic Value Analysis of the Potential Wind Farm Site Using the Black-Scholes Model (블랙 숄즈 모델을 이용한 잠재적 풍력발전 위치의 경제적 가치분석)

  • Jaehun Sim
    • Journal of Korean Society of Industrial and Systems Engineering
    • /
    • v.45 no.4
    • /
    • pp.21-30
    • /
    • 2022
  • To mitigate the environmental impacts of the energy sector, the government of South Korea has made a continuous effort to facilitate the development and commercialization of renewable energy. As a result, the efficiency of renewable energy plants is not a consideration in the potential site selection process. To contribute to the overall sustainability of this increasingly important sector, this study utilizes the Black-Scholes model to evaluate the economic value of potential sites for off-site wind farms, while analyzing the environmental mitigation of these potential sites in terms of carbon emission reduction. In order to incorporate the importance of flexibility and uncertainty factors in the evaluation process, this study has developed a site evaluation model focused on system dynamics and real option approaches that compares the expected revenue and expected cost during the life cycle of off-site wind farm sites. Using sensitivity analysis, this study further investigates two uncertainty factors (namely, investment cost and wind energy production) on the economic value and carbon emission reduction of potential wind farm locations.

A Study on the Adequate Capacity of Substation Transformer for Offshore Wind Farm (해상풍력발전단지의 해상변전소 변압기 적정 용량에 관한 연구)

  • Moon, Won-Sik;Jo, Ara;Huh, Jae-Sun;Bae, In-Su;Kim, Jae-Chul
    • Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
    • /
    • v.29 no.8
    • /
    • pp.83-89
    • /
    • 2015
  • This study suggests the methodology to decide the number and adequate capacity of substation transformer in a large-scale offshore wind farm (OWF). The recent trend in transformer capacity of offshore substation is analyzed in many European offshore wind farm sites prior to entering the studies. In order to carry out the economic evaluation for the transformer capacity we present the cost models which consist of investment, operation, and expected energy not supplied (EENS) cost as well as the probabilistic wind power model of wind energy that combines the wind speed with wind turbine output characteristics for a exact calculation of energy loss cost. Economic assessment includes sensitivity analysis of parameters which could impact the 400-MW OWF: average wind speed, availability, discount rate, energy cost, and life-cycle.

A Study on Reliability Evaluation for Constructing Inner Grid of Offshore Wind Farm (해상풍력단지의 내부 계통망 구성을 위한 신뢰도 평가에 관한 연구)

  • Bae, In-Su;Shin, Je-Seok;Kim, Jin-O
    • Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
    • /
    • v.27 no.11
    • /
    • pp.89-95
    • /
    • 2013
  • In resent years, Offshore Wind Farm (OWF) is being actively developed. Typically, OWF has a better wind resource than onshore one, but also have a very high investment cost and maintenance cost. Furthermore, due to a difficulty of geographical access, OWF can be affected by the failure for a longer time. As the result, OWF has a higher loss cost. Therefore, a reliability evaluation should be performed more carefully at OWF planning stage. In this paper, a methodology for the reliability evaluation on inner grid is suggested. Inner grid connects wind turbines via submarine cables and transfers power to offshore substation. According to location of the faulted cable under layouts of inner grid, the transfer ability of inner grid is influenced. In order to indicate the transfer ability of inner grid, several indices are introduced such as PNDR, EEND and EENDC. To demonstrate the methodology described in this paper, diversity case studies were performed.

Installation Scheduling for the Development of Southwest Coast 2.5GW Offshore Wind Farm (서남해안 2.5GW 해상풍력단지 조성을 위한 설치 일정계획)

  • Ko, Hyun-Jeung
    • Journal of Korea Port Economic Association
    • /
    • v.33 no.2
    • /
    • pp.83-96
    • /
    • 2017
  • As a way to address global warming, among the renewable energy sources, there have been heavy investments worldwide for the development of offshore wind farms. However, such development has a drawback: investment costs are higher than those for onshore wind farms due to required operations such as offshore transportation and installation. In particular, delays in installation due to adverse maritime weather conditions are factors that affect the economics of offshore wind farms' operation. Therefore, in this study, we analyze the optimal schedule of the construction of an offshore wind farm from a macro perspective by considering the weather conditions in Korea. For this purpose, we develop a mathematical model and apply it to a 2.5 GW offshore wind farm project on the southwestern coast of the country. We use data from the Korea Meteorological Agency for maritime weather conditions and attempt to reflect the actual input data based on precedent cases overseas. The results show that it takes 6 months to install 35 offshore wind turbines. More specifically, it is pointed out that it is possible to minimize costs by not working in winter.

A study on comparing short-term wind power prediction models in Gunsan wind farm (군산풍력발전단지의 풍력발전량 단기예측모형 비교에 관한 연구)

  • Lee, Yung-Seop;Kim, Jin;Jang, Moon-Seok;Kim, Hyun-Goo
    • Journal of the Korean Data and Information Science Society
    • /
    • v.24 no.3
    • /
    • pp.585-592
    • /
    • 2013
  • As the needs for alternative energy and renewable energy increase, there has been a lot of investment in developing wind energy, which does not cause air pollution nor the greenhouse gas effect. Wind energy is an environment friendly energy that is unlimited in its resources and is possible to be produced wherever the wind blows. However, since wind energy heavily relies on wind that has unreliable characteristics, it may be difficult to have efficient energy transmissions. For this reason, an important factor in wind energy forecasting is the estimation of available wind power. In this study, Gunsan wind farm data was used to compare ARMA model to neural network model to analyze for more accurate prediction of wind power generation. As a result, the neural network model was better than the ARMA model in the accuracy of the wind power predictions.

Selecting the Geographical Optimal Safety Site for Offshore Wind Farms to Reduce the Risk of Coastal Disasters in the Southwest Coast of South Korea (국내 서남해권 연안재해 리스크 저감을 위한 지리적 해상풍력단지 최적 입지 안전구역 선정 연구)

  • Kim, Jun-Gho;Ryu, Geon-Hwa;Kim, Young-Gon;Kim, Sang-Man;Moon, Chae-Joo
    • The Journal of the Korea institute of electronic communication sciences
    • /
    • v.17 no.5
    • /
    • pp.1003-1012
    • /
    • 2022
  • The horizontal force transfer to the turbine and substructure of a wind power generation system is a very important factor in maintaining the safety of the system, but it is inevitably vulnerable to large-scale coastal disasters such as earthquakes and typhoons. Wind power generation systems built on the coast or far offshore are very disadvantageous in terms of economic feasibility due to an increase in initial investment cost because a more robust design is required when installed in areas vulnerable to coastal disasters. In this study, the GIS method was used to select the optimal site for a wind farm from the viewpoint of reducing the risk of coastal disasters. The current status of earthquakes in the West and South Seas of Korea, and the path and intensity of typhoons affecting or passing through the West and South Seas were also analyzed. Accordingly, the optimal offshore wind farm site with the lowest risk of coastal disasters has been selected and will be used as basic research data for offshore wind power projects in the region in the future.

Current Status and Prospects of Ukrainian Wind Energy (우크라이나 풍력발전 현황 및 전망)

  • Kim, Hyun-Goo;Park, Hi-Chun
    • New & Renewable Energy
    • /
    • v.7 no.1
    • /
    • pp.8-14
    • /
    • 2011
  • As is the case in Korea, the expansion of renewable energy dissemination is an essential matter in Ukraine when considering its energy consumption and dependence on energy import. While Korea has set about promoting the new and renewable energy industry on the back of the national policy on green growth, Ukraine expects a virtuous circle of renewable energy industry with green tariffs and the attraction of foreign capital in association with carbon emission trade. Utilizing its well-developed heavy industrial sector including the shipbuilding and automobile industries, Korea expects wind turbine manufacturing to become one of its next-generation growth engines. Ukraine is also trying to enter the wind turbine system or parts manufacturing industry based on its automobile industry and advanced aerospace technology. Although the Crimean region in Ukraine seems to have excellent wind resources, and thus shows great potential as a location for wind farm development, political instability has been a major obstacle to the attraction of foreign capital, leading to delayed investment.