b'SEPTEMBER 28 - OCTOBER 11, 2020forest products 27comparing 14 MW against 12 MW tur- (BLOCKCHAINcontinued from bines, potential savings are beyond $20page 25)million. Furthermore, the reduction inofthetoptwooceancarriersand cablingrunsandconnectionsduetoarguably the biggest name in hi-tech, the lower number of array cables couldit isnt surprising that TradeLens has lead to additional savings of betweengrown by leaps and bounds.$5 million and $15 million when usingIn the early goingand it is still 14 MW turbines rather than 12 MWfar from a mature undertakingit is and 10 MW turbines. easy to see that the network is rapidly Ontopofpotentialcostsav- filling outwith terminals, ports, car-ings from the reduction in units, theriers,railroads,shippers,suppliers, increase in turbine size can also driveforwarders and 3PLs all being added other efficiency gains. Rystad Energyto TradeLens complex eco-system.has analyzed the potential reduction inEqually,thenumberofproduct the levelized cost of energy (LCOE)offeringsandapplicationshascom-using Equinors Empire Wind in themensurately grown with the network. (COSTLIERcontinued frommillion to $120 million on manufac- US as a case study. Using,andinmanycases,getting page 25) turing alone, helping to offset some ofInthiscase,using10MWtur- used to, blockchain technology is the new 1 GW windfarm offers cost sav- the developers expenses. bines, the estimated LCOE is approxi- ongoing process.ingsofnearly$100millionversusRystad Energy also estimates thatmately $75/MWh. Opting instead forIt is also an ongoing process for installingthecurrentlyavailable10thecosttoinstallaturbineranges12MWturbines,theLCOEfallstoTradeLens itself. The open API envi-MW turbines. between$0.5millionto$1million,approximately $71/MWh. With a fur- ronment and interoperability and the SiemensGamesasnewesttur- whilethecostoffoundationinstal- ther upgrade to 14 MW turbines, thelaunchofanApplicationsMarket-bineisasteptowardsdramaticallylation ranges from $1 million to $1.5LCOEisestimatedtobe$68/MWh.placetoenablethirdpartiestobuild reducingdevelopmentandlevelizedmillionperunit.UsingthemidpointThus, with the incremental increases inand mount third party applications on costs world-wide. With larger turbinesin each range, for a 1 GW project thesize, turbines and offshore wind plantsthe TradeLens platform, is designed to come greater savings in other projectimpliedsavingssurpass$50millionbecome more economicalnot just inallowtheplatformtoevolvetomeet segmentsandgreaterrevenuegen- ifusing14MWinsteadof10MWlower upfront costs, but also in longer- challengesinthemarketanswering eration potential over the duration ofunits. Under similar circumstances butterm power generation potential. the wherefore of blockchain technology.Breakbulk Magazine Ad2019-POP copy.pdf 1 8/28/19 12:00 PMfuture projects, increasing the offshore wind industrys competitiveness, says Rystad Energys product manager for offshore wind, Alexander Flotre.LearnmoreinRystadEnergysPort Of PascagoulanewlylaunchedRenewableEnergy Analytics, which offer comprehensive and fact-based analysis of market fun-damentalswithintheglobalrenew-ables sector. we assume thatOn the MississippiIn this example, the cost of a turbine is approximately $800,000 per MW on average for cur- Gulf Coastrentlyavailableunits(i.e.turbines with up to 10 MW nameplate capaci-ties),witha2.5%premiumapplied for each additional MW for the larger units expected in the medium-term, to reflect anticipated efforts by manufac-turers to capture upside.Thus, for this analysis we estimate thatthecostofa10MWturbineis $8 million, while a 12 MW and a 14 MW turbine would cost approximately $10.1millionand$12.3million, respectively. Therefore, moving from a 10 MW turbine to a 14 MW turbine could result in higher costs of approxi-Cmately $85 million for manufacturing, while utilizing a 14 MW turbine in lieu Mof a 12 MW unit could add almost $45 Ymillion to manufacturing costs. CMFoundations are the main compo-MYnents that offer opportunities for cost CYreductionsiflargerturbinesareuti-lized. Rystad Energy estimates that a CMYfoundation typically costs between $3 Kmillion and $4 million, with variations relating largely to foundation type and water depth. In a 10 MW to 14 MW switch, such cost savings could sur-pass $100 million for the developer,15 miles to Gulf Shipping Laneswhile savings in a 12 MW to 14 MW42 ft deep channelsscenario would likely range from $30 million to $50 million. 2 Harbors - 10 General Cargo BerthsThecostofarraycablesvariesCovered storage / Open storagebased on the turbine size. While the use of larger turbines implies poten- Served by CSX and CN railroads tial cost savings through fewer foun- Specializing in: dations,theaddedlengthrequired for array cables for 14 MW turbines Breakbulkislikelytokeepoverallcablecosts flat. However, the lower turbine count Project Cargoesreducesthenumberofcablingruns Bulk Cargoesand connection of turbines to the off-shore substation, which in turn could cut installation costs.Thisexampleshowsthatwhile larger units are expected to drive up the cost of turbines, reductions fromPortofPascagoula.comother segmentsnamely foundationscould result in cost savings of $100'