K&M sees significant potential for offshore wind to support the energy transition in countries with limited land for onshore wind development. In particular, several Caribbean islands located in regions rich in wind resources are increasingly finding it challenging to secure permits for new onshore wind farms due to land constraints. Offshore wind could offer a viable and cost-effective alternative for these regions.

Recently, K&M assisted a Caribbean utility in evaluating the feasibility of adding offshore wind to its energy portfolio. The company identified potential offshore wind farm sites within the country’s Exclusive Economic Zone that met several key criteria: suitable for either fixed-bottom or floating substructures, located outside of marine protected areas and wetlands, with wind speeds above 7 meters per second, and clear of major maritime navigation corridors.

K&M then analyzed HVAC and HVDC interconnection options and overall wind turbine configuration and estimated the levelized cost of energy (LCOE) for the selected sites across a range of installed capacities. The study revealed the optimal installed capacity for minimizing LCOE. It also found that while larger capacities could help the country achieve its 100% renewable energy target, they would result in energy curtailment and significantly higher LCOEs. However, the costs associated with these larger installations could be reduced if the excess energy is utilized for other purposes, such as producing e-fuels.