A new study by Boston Consulting Group and Peak Wind advocates for a transition from production-based to revenue-based availability metrics as a key strategy to enhance profitability in offshore wind farms. Titled “Unlocking Value Through Operations and Maintenance – Seven Levers to Boost Offshore Wind Profitability,” the report underscores the importance of predictive and revenue-focused O&M strategies amidst evolving turbine technology.
According to the authors, adopting these insights can lead to “significant improvements in operational efficiency and profitability for offshore wind projects worldwide.” The study identifies optimizing existing operational fleets as a critical opportunity for creating greater value and supporting the expanding role of wind energy in global energy systems.
Matti Scheu from Peak Wind stressed the importance of efficient management in ensuring financial viability during the operational phase, stating, “Achieving stable and predictable business outcomes requires a simultaneous focus on both revenue and cost.”
The report also recommends strategies such as balancing innovation with standardization, continuous improvement of production systems, integrating data for learning models, and early lifecycle management focus. Robert Hjorth, managing director and partner at Boston Consulting Group's Oslo office, emphasized the potential impact of refining O&M practices, noting that developers can “unlock significant value and enhance project viability.”
The findings highlight a pivotal moment for the offshore wind industry, where operational performance increasingly influences the net present value of projects, signaling a shift towards more robust and sustainable operational strategies.
