Economic Modeling of Offshore Wind Farm Projects in Brazil’s Energy Market

Diversifying the electricity supply matrix is essential for the energy transition, with wind energy playing a key role in this process. In this context, offshore wind power emerges as a promising renewable alternative, particularly for Brazil, which, despite having 8,000 km of coastline and high energy demand along its shores, has no operational offshore wind farms. However, the technical and economic evaluation of such projects are highly complex due to numerous variables and regional characteristics. To address this challenge, this study introduces an adaptative economic model for assessing offshore wind projects. This framework allows for expansion, enabling adaptation to various economic and regulatory conditions across different regions and markets. Developed as a web-based application, the model facilitates the integration of additional analytical modules. Additionally, a sensitivity analysis based on the Brazilian framework, evaluating key economic indicators such as Net Present Value (NPV), Internal Rate of Return (IRR), and Levelized Cost of Energy (LCOE), effectively demonstrates how variations in input parameters influence project feasibility. The model’s ability to simulate various scenarios provides valuable economic insights, facilitating informed decision-making for offshore wind investments in the sector.