A study conducted by K2 Management found that wind project owners can increase their overall project earning by up to 2% if they plan for lifetime extension at an earlier stage in the project, rather than beginning the process in the project’s final year.
The study is based on a 24 MW German onshore wind farm with a capacity factor of 35 and the potential to extend the wind farm’s life from 20 to 25 years.
Waiting until the project is nearing the end of its standard life to plan a five-year extension can increase the need for turbine inspections and the likelihood of the technology failing or wearing out before extension can be considered is much higher, the study states.
K2 Management’s calculations show that by beginning the fleet monitoring when the turbines are 10 years old, project owners can start to tailor the maintenance program and optimize service setup and the O&M contract towards facilitating a 25-year life.
“We are talking to clients in great detail about looking at their assets as they are moving towards later life and it is really opening clients’ eyes as to the opportunities that are out there to turn a 10-to-15-year-old ageing asset into the most profitable and successful investment possible,” Senior Asset Management Consultant at K2 Management Lars Hedemann said.
Read the full release here.
Filed Under: Projects