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Greenrock Releases Fourth Offshore Wind Study

FOR IMMEDIATE RELEASE

Tuesday, November 7, 2023

 

GREENROCK RELEASES FOURTH STUDY FROM OFFSHORE WIND FEASIBILITY SERIES

 

Greenrock is pleased to announce the release of the fourth study in our offshore wind feasibility study series - a Wind Speed and Annual Energy Production Analysis. This study was commissioned to understand more accurately how much electricity could be generated by an offshore wind farm in Bermuda.



Key points from the study are as follows:

 

  • The energy production analysis has been carried out by BVG Associates, who have decades of experience in the offshore wind industry, including in the design of offshore wind turbines.

 

  • The study used commercially available wind resource data purchased from Vortex, and also considered local data that is available from the Bermuda Weather Service.

 

  • A 60MW offshore wind farm could generate 34% of Bermuda’s current electricity requirements.

 

  • Forecast electricity costs from an offshore wind farm have been revised using the annual energy production from this study to around $0.17/kWh.

 

  • Based on our own analysis of BELCo's electricity costs over the past few years, offshore wind could generate electricity that is around 30-40% cheaper than generating electricity from fuel oil.

 

  • The electricity generated by a 60MW offshore wind farm would cost around $23 million a year less than generating the same amount of electricity from oil.

 

We are currently seeking sponsors to support the next study, an Offshore Wind Roadmap. This will be written for key stakeholders, and will explain good practice approaches that could be used for a small remote location such as Bermuda to interact with the global offshore wind industry, to successfully procure and develop a commercial offshore wind farm for Bermuda.

 

Click here to download the Bermuda Offshore Wind: Wind Speed and Annual Energy Production Report

 

For more information about the Offshore Wind Feasibility Study please visit our website, view our overview online, or download the overview as a PDF.  For interviews please call 747.7625 or send an email to  This email address is being protected from spambots. You need JavaScript enabled to view it..

 

Click here to download the Original Statement

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