In a groundbreaking study published in the journal Wind Energy Science, researchers have unveiled a novel approach to optimizing offshore wind farm layouts that could significantly boost revenues for operators. The study, led by T.-H. Nguyen from the Electrical Power Engineering Unit at the University of Mons in Belgium, challenges the conventional wisdom of focusing solely on maximizing energy production.
Traditionally, wind farm layout optimization has centered on minimizing wake losses to enhance annual energy production. However, this approach may not always translate to optimal profits, especially given the volatility of electricity prices. As the power system becomes increasingly renewable-driven, the role of wind farm operators in balancing the grid through participation in reserve markets is set to grow.
Nguyen and his team have developed a new formulation for wind farm layout optimization that considers both day-ahead and reserve markets. “By incorporating reserve markets into our optimization process, we can better account for the variability of electricity prices and the growing need for grid balancing,” Nguyen explains. The study uses stochastic gradient descent for optimization and probabilistic forecasts for wind power and electricity prices.
The researchers applied their new methodology to a real-life offshore wind farm in Belgium. The results were striking: annual revenues increased significantly when accounting for participation in reserve markets, even with a lower supplied energy production. Moreover, layouts optimized for revenue maximization with reserve participation showed better yearly revenues than those considering only the day-ahead market.
The findings also revealed that the new methodology yields higher expected revenues—0.18% on average—compared to the widely used approach of maximizing annual energy production. This could have substantial commercial implications for the energy sector, particularly as the industry grapples with the challenges of integrating more renewable energy sources into the grid.
As the power system evolves, the ability to optimize wind farm layouts for both energy production and market participation could prove crucial. Nguyen’s research suggests that a more holistic approach to wind farm optimization could unlock new revenue streams and enhance the overall profitability of offshore wind projects.
This study not only advances our understanding of wind farm optimization but also underscores the importance of adapting to the changing dynamics of the energy market. As the transition to renewable energy accelerates, such innovations will be key to ensuring a stable and profitable energy future.