{"title":"Evaluation of an Offshore Wind Power Project: Economic, Strategic and Environmental Value","authors":"Paula Ferreira, Filipa Vieira","volume":47,"journal":"International Journal of Economics and Management Engineering","pagesStart":2132,"pagesEnd":2138,"ISSN":"1307-6892","URL":"https:\/\/publications.waset.org\/pdf\/6782","abstract":"The use of wind energy for electricity generation is\ngrowing rapidly across the world and in Portugal. However, the\ngeographical characteristics of the country along with the average\nwind regime and with the environmental restrictions imposed to these\nprojects create limitations to the exploit of the onshore wind\nresource. The best onshore wind spots are already committed and the\npossibility of offshore wind farms in the Portuguese cost is now\nbeing considered. This paper aims to make a contribution to the\nevaluation of offshore wind power projects in Portugal. The technical\nrestrictions are addressed and the strategic, environmental and\nfinancial interest of the project is analysed from the private company\nand public points of view. The results suggest that additional support\nschemes are required to ensure private investors interest for these\nprojects. Assuming an approach of direct substitution of energy\nsources for electricity generation, the avoided CO2 equivalent\nemissions for an offshore wind power project were quantified. Based\non the conclusions, future research is proposed to address the\nenvironmental and social impacts of these projects.","references":"[1] European Commission \"European energy and transport. Trends to2030-\nupdate 2005\", 2008 (http:\/\/ec.europa.eu\/energy\/index_en.html).\n[2] E. Gibson and P. Howsam, \"The legal framework for offshore wind\nfarms: A critical analysis of the consents process\", Energy Policy, vol.\n38, pp. 4692-4702, 2010.\n[3] J. Markard and R. 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