Our independent and robust cost analysis of the Gravity Tripod showed the commercial competitiveness of Offshore Wind Logistics and Construction’s (OWLC) Gravity Tripod.
Our analysis was used to show to potential investors the merits and commercial possibilities of their foundation design.
OWLC is developing an innovative offshore wind turbine foundation concept: the Gravity Tripod. It is designed for mass manufacturing, fast assembly and easy installation.
The concrete substructure has several advantages over conventional foundations. It has a low seabed bearing pressure, so it requires less seabed preparation than other gravity type designs. It can also be assembled quickly and requires no piling for installation.
To achieve commercial success the foundation needs to be technically validated as well as prove that it can be economically competitive with the conventional options. To achieve this, OWLC has progressed the engineering and certification work, and asked BVGA Associates to carry out an independent commercial review; including cost comparison and levelized cost of energy (LCOE) analysis of the Gravity Tripod.
We performed a cost and LCOE analysis of OWLC’s Gravity Tripod foundation, using data supplied by OWLC and our in-house modelling tools. We considered a commercial, 500MW farm made up of 12MW turbines. We then compared the results to farms using monopile and jacket foundations at the same size and date.
We also performed an analysis considering a future project with FID 2025. We compared a farm using Gravity Tripods to a farm using jacket foundations, estimating the future costs and LCOE using learning rates derived from our in-house spatial LCOE model.
We analysed the LCOE and cost differences and summarised the findings in a report, for OWLC to show potential investors. In the report we also highlighted the potential advantages of the Gravity Tripod foundation.
“BVGA’s expert, clear and robust analysis was a great help in our supporting our business plan, aiding discussions with potential investors. It’s clear why they are the leaders in the industry.”
Matt Bleasdale, OWLC