North Sea Beatrice Platform as OREC

Unfortunately, we did not receive the appropriate figures prior to the end of the project to enable us to establish the economic feasibility of re-using 'Beatrice' as an OREC. Please watch this space for further info.

Economic analysis

Example of embedded electrical generation using 4 x 2MW wind turbine on an offshore installation

Breakdown of costs
£
2 MW wind turbine @ £850k-1m per turbine x 4 4,000,000
Deck Conversion
Transmission equipment
Logic control / Communications
Amortisation @ 7% (note 1)
Salaries (stand-by) 60,000
Insurance
Transport
Budget for new blades / generator (5% of annual cost)
Variable costs
Line losses (5%)
Note 1: represents amortisation of capital cost over 20 years.
Electricity will be required for the following uses on the installation:
  1. navigation aids (lights, sirens)
  2. cathodic protection
  3. communications
  4. cooling of generator on turbine
  5. onboard facilities (accomodation module)
This has been estimated at 5% of annual electricity generated.

Estimated annual profit & loss account

£ £
Income generated
(see additional notes above) 		1,250,000
Less fixed costs:
Salaries for 2 operators 		60,000
Payback (7% per annum) 590,000
Insurance
(safety, collision, accident, equipment)
Maintenance of turbine (5% of inst per year per turbine) 200,000
Maintenance of platform
Less variable costs:
Transport to and from installation
Total costs
Estimated net profit/(loss) for year

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