Siemens intends to reduce the levelised cost of energy (LCoE) for generating offshore windpower from 2025.
The company aims for electricity production at an LCoE level below €0.8 per kWh, with the price including costs for grid access to shore.
The initiative is part of the Global Offshore Wind 2016 conference and exhibition in Manchester, where 11 members of the association Wind Europe issued a joined declaration.
This determined a target for companies to generate offshore wind energy in more cost-competitive ways over the coming years.
Siemens' windpower and renewables division CEO Michael Hannibal said: "The offshore cost-out target for 2025 is an important milestone for us and the industry to enable offshore wind grid parity. At the same time, it combines climate protection and cost efficiency."
Currently, 72% of the cost reduction target has already been achieved by Siemens, owing mostly to the technical improvements of the German company, including new grid connection technologies, installation processes, maintenance strategies, and logistics.
Digitalisation processes will also be able to increase efficiency within the plants, making the technology even more economical.
The 588MW Beatrice Offshore Wind Farm in Outer Moray Firth in Scotland will make use of Siemens' compact Offshore Transformer Modules (OTM), reducing costs of AC-grid connections by about 40%.
Image: Siemens to reduce Levelized Cost of Energy (LCoE) for generating offshore wind power. Photo: courtesy of xedos4 / Freedigitalphotos.