The Contracts for Difference (CfD) Round 2 auction in 2017 saw strikes prices of £74.75 and £57.5 per MWh being allocated to projects to be delivered in 2021/22 and 2022/23, respectively. In contrast, CfD Round 1 in 2015 saw strikes prices of £119.89 and £114.39 per MWh for projects to be delivered in 2017/18 and 2018/19, respectively. With fuel costs often being the second highest operational expenditure and operations and maintenance (O&M) contributing to approximately 20-25% of the Levelised Cost of Energy (LCoE), some of the expected saving will need to be made in reducing vessel costs. Low-carbon fuels offer an opportunity to reduce these costs, while at the same time also reducing emissions.
The Paris Agreement in 2015 announced an immediate emissions peak in their attempt to create ‘net-zero emissions’ before the next century. This has been met with various port and marine regulations to reduce emissions produced by the maritime industry. To achieve genuine green credentials, it is imperative to reduce consumption of fossil fuels wherever possible. The main ways of improving the green credentials of offshore wind vessels include:
The Next-Generation CTVs and SOVs Project
The project’s results will be disseminated when research concludes later in 2019.