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November 26, 2021

Kincardine Offshore Windfarm, UK

By Carmen

Kincardine Offshore Windfarm is a 49.625MW offshore wind power project. The project is located in North Sea, Scotland, the UK. The project is currently active. It has been developed in multiple phases. The project construction commenced in 2018 and subsequently entered into commercial operation in September 2018.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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Project Type Total Capacity (MW) Active Capacity (MW) Pipeline Capacity (MW) Project Status Project Location Project Developer
Offshore 49.625 49.625 Active Scotland, the UK Kincardine Offshore Windfarm

Description

The project was developed by Kincardine Offshore Windfarm. Actividades de Construccion y Servicios and Pilot Offshore Renewables are currently owning the project.

The wind turbines in the project are installed on floating foundations. An array of semi-submersible foundations feature in the project.

The project generates 218,000MWh electricity and supplies enough clean energy to power 55,000 households, offsetting 94,500t of carbon dioxide emissions (CO2) a year. The project cost is $329.034m.

The turbines installed on the Kincardine Offshore Windfarm (Kincardine Offshore Windfarm Phase I), are using Tubular Steel towers.

Development Status

The project is currently active. The project construction commenced in 2018 and subsequently entered into commercial operation in September 2018.

Power Purchase Agreement

The power generated from the Kincardine Offshore Windfarm (Kincardine Offshore Windfarm Phase II) is sold to Statkraft under a power purchase agreement for a period of 8 years from 2021. The contracted capacity is 47.62MW.

Contractors Involved

Cobra Wind International was selected to render EPC services for the wind power project.

Kincardine Offshore Windfarm (Kincardine Offshore Windfarm Phase I) is equipped with Vestas Wind Systems V80-2.0 MW turbine. The phase consists of 1 turbine with 2MW nameplate capacity.

Kincardine Offshore Windfarm (Kincardine Offshore Windfarm Phase II) is equipped with Vestas Offshore Wind V164-9.5 MW turbines. The phase consists of 5 turbines with 9.525MW nameplate capacity.

Vestas Offshore Wind is the O&M contractor for the wind power project for a period of 10 years.

Methodology

All power projects included in this report are drawn from GlobalData’s Power Intelligence Center. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponent’s – news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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