Qualitative and Quantitative Analysis of Off-Shore Wind Energy Project’s Risks

Abstract

The benefits of wind power can solve the issue of growing power consumption with insufficient distribution facilities. Based on an extensive research on more than 20 studies, this study explores the risks associated with off-shore wind energy in Persian Gulf in Iran. This paper tries to identify the risks in related off-shore wind energy project, in order to specify which variables have the most impact on project by qualitative analysis through application of the impact and the possibility of every risk. A survey was conducted in order to determine the relative importance of variables and risks. Certain key components in completion of the project should be taken into account such as technology, research team, expert teams (personnel that have a good knowledge of this industry), and choosing the right spot where the wind farms will be located. The objective of this paper is to present the variables encountered in wind power project and to highlight the risks that must be controlled by the project developers, project team, supply chain actors, manufacturers, and all the stockholders involved in successful completion of a project.