Director - Wind Independent Engineering DNV GL San Diego, California
Presentation Description: Wind turbine partial repowering is not a new concept in the industry, however, it has experienced a notable acceleration over the past two to three years. With more than 21 GW of turbine capacity in excess of 10 years old in the US market, the potential volume of partial repowering activity represents a significant opportunity for the industry. While the production tax credits may be considered as the main driver for this trend, there may be other financial and technological benefits associated with such practice. DNV GL has been closely involved with a large number of these projects, conducting technical due diligence and owners engineering for repowering projects, and will present experience and insight as to what the drivers for this acceleration are, the benefits of partial repowering, and what the potential risks and pitfalls may be. The presentation will focus on the economic costs and benefits of repowering; the expected inflection points for turbine costs at which repowering without PTC considerations appears economic; the uplift in production commonly observed from repowering projects; and the key drivers for successful financing of repowering projects. Real-life case studies will be utilized to illustrate key considerations.
Methodology: • Clarify the definition of partial repowering • Identify the market drivers • Identify the associated technological risks • Identify any possible financing specifics • Predict possible future scenarios of partial repowering.
Understanding of current and possible future partial repowering activities in the industry for all stakeholders, e.g. owner/operators, investors, OEMs, etc.
Understanding of technological and engineering challenges and consideration associated with partial repowering of wind assets.
Quantification of the trade-off between CAPEX and future OPEX/revenue for partially repowered projects, which provides clarity and reduces uncertainty on financial benefits associated with partial repowering of wind assets.