How Profitable are Wind Turbine Projects? An Empirical Analysis of a 3.5 MW Wind Farm In Ireland

With many electricity markets worldwide deregulated or in the process of deregulation, the opportunity for smaller independent generators to provide power to their local power system has increased. For smaller independent wind developers assessing the feasibility of a large scale wind farm project is vitally important due to significant risk associated with the investment. This paper presents a longitudinal case study of a 3.5 MW wind farm situated in the North East of Ireland utilising multiple sources of empirical data obtained over a three year period following commissioning. The findings suggest that an average yearly capacity factor of 34% was recorded from the turbines providing for a simple payback period of 6.7 years. It would appear from this case study that site selection, electricity market conditions, the quality of the control system and the competencies of the design/installation/commissioning company all contributed to the satisfactory results