In a landmark collaboration, Boston Consulting Group and PEAK Wind have released a detailed report providing a strategic roadmap to enhance the operational performance and profitability of offshore wind farms through optimized operations and maintenance (O&M) practices.
The report emphasizes the critical role of O&M as offshore wind farms transition from supplementary green energy sources to primary energy providers. It identifies the significant untapped potential in optimizing existing operational fleets, which can lead to greater value creation and support the growing role of wind energy in global energy systems.
“Efficient management of offshore wind farms is now more crucial than ever to ensure their financial viability during the operational phase. Achieving stable and predictable business outcomes requires a simultaneous focus on both revenue and cost,” says Matti Scheu at PEAK Wind.
The authors highlight seven key indicators of a mature and future-proof O&M function:
- Balancing innovation with standardization.
- Transitioning from production-based to revenue-based availability metrics.
- Redefining fitness-for-purpose across all project phases.
- Continuous improvement of the production system.
- Optimization of synergies across portfolios and collaboration with neighboring sites.
- Designing data integration and learning models.
- Early focus on lifecycle management.
“The offshore wind industry is at a pivotal point where operational performance constitutes an ever-larger proportion of the net present value of projects. By refining O&M practices, developers can unlock significant value and enhance project viability,” Robert Hjorth, Managing Director and Partner in BCG’s Oslo office, added.
The report also discusses the evolution of turbine technology and the necessity for a shift towards more robust predictive and revenue-focused O&M strategies. Both BCG and PEAK Wind are committed to supporting the offshore wind industry through innovative strategies and robust management practices. The insights provided in this report are expected to drive significant improvements in operational efficiency and profitability for offshore wind projects worldwide.
Read the full report “Unlocking Value Through Operations and Maintenance – Seven Levers to Boost Offshore Wind Profitability” here.
