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Economic valuation under uncertainty in offshore wind farms investments: A systematic literature review

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  • Cabo-Rodríguez, A.
  • Calvo-Silvosa, A.
  • DeLlano-Paz, F.

Abstract

Offshore wind energy is emerging as a cornerstone of the global energy transition, yet its economic valuation remains methodologically fragmented and challenged by deep uncertainty, high capital intensity, and location-specific risks. This article provides a comprehensive and structured synthesis of the economic methodologies applied to offshore wind project appraisal, with particular emphasis on approaches that incorporate flexibility, a critical but underdeveloped dimension in existing research. Using a systematic literature review of 61 peer-reviewed studies published between 2010 and 2025, the study maps the evolution of valuation practices, identifies the dominant analytical tools, and assesses their capacity to address the uncertainty inherent in offshore wind investment decisions.

Suggested Citation

  • Cabo-Rodríguez, A. & Calvo-Silvosa, A. & DeLlano-Paz, F., 2026. "Economic valuation under uncertainty in offshore wind farms investments: A systematic literature review," Applied Energy, Elsevier, vol. 409(C).
    • Handle: RePEc:eee:appene:v:409:y:2026:i:c:s0306261926001728
    DOI: 10.1016/j.apenergy.2026.127520
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