Are you sure you trust those 2023 numbers? Floating offshore wind cost modelling in 2025

Magenta Renewables was commissioned to refresh a previous cost modelling project, supporting a developer in readiness for competitive tender of a commercial-scale floating offshore wind site.

The challenge was to understand real cost changes in the supply chain since the previous version, in view of macro-economic shocks and refined technical inputs.

Credit: Magenta Renewables

Magenta approach

New data points were gathered via targeted via consultation with key supply chain contacts.

Inputs were set up in Magenta Renewables’ FOW substructure CAPEX model, outputting bespoke steel and concrete floating foundation supply costs, including fabrication, assembly and logistics to the point of load-out.

Top-down benchmarking from recent FOW projects was used to validate outputs.

Indicative foundation CAPEX across different scenarios

Outcomes

The report included refreshed CAPEX stacks for foundations and moorings, across several design and supply scenarios. Cost levers were discussed, appropriate to the target market and supply / procurement strategy, allowing the client to select technology and proceed with the bid with greater clarity.