Spanish utility Iberdrola is heading a consortium aiming to develop a large-scale floating offshore wind turbine within the North Sea, because the sector appears to be like to drive up the dimensions of expertise and push down prices.

In an announcement Monday, the agency mentioned the turbine can be in extra of 10 megawatts (MW) and examined on the Marine Power Check Centre in Norway. The common dimension of offshore generators put in in 2019 was 7.eight MW, in accordance with commerce physique WindEurope.

The worldwide consortium, made up of corporations from Spain, Germany, France, Norway and Denmark, goals to scale back the price of floating offshore wind power manufacturing. Iberdrola mentioned it hoped to decrease the levelized value of power (LCOE) for floating offshore wind to between 40 and 60 ($44 and $66) euros per megawatt hour (MWh).

There may be particular scope for value reductions within the offshore sector. Final November, Wooden Mackenzie mentioned Europe's LCOE for bottom-fixed offshore wind would drop...