Abstract
With a plan to achieve a target of 5.7 GW offshore wind power capacity in 2025, Taiwan anticipates building a 36-billion USD industry, which makes Taiwan a center of attention in the global marketplace of civil engineering construction. Aimed at Taiwan’s underwater foundations industries, this study is the first to develop an investment evaluation model (IEM) by applying FPR to obtain risk factor weights and calculate the overall investment risk value with a numerical scoring method. In a context where no precedent exists for reference, this study provides auxiliary and supportive tools to help builders to make the decision, based on objective indicators, whether to undertake an investment. To date, no research has been conducted to introduce a reasonable mathematical model that discusses the issue of partner selection in the field of offshore wind power. This study is the first paper to construct a SWARA-FTOPSIS partner selection model, which enables underwater foundations builders to take specific Taiwanese characteristics into account in their selection of the best partners to meet transportation, construction, and installation requirements. Finally, the study uses the case of the Taipower Offshore Wind Power Project (2nd phase) to verify the feasibility of this model.
Highlights
For many developing countries, access to new types of energy may be essential for economic development
This study explores the decision-making of offshore wind power underwater infrastructure investment evaluation and partner selection, which makes it the first research to construct a two-stage decision-making model
No research has been conducted to introduce a reasonable mathematical model that discusses the issue of partner selection in the field of offshore wind power
Summary
Access to new types of energy may be essential for economic development. Given the limited reserves of fossil fuels and the rising level of energy demand across the world, it is no longer sustainable to rely solely on existing energy sources. Many countries have realized the benefits of taking advantage of various energy sources, especially renewable sources, in meeting their current and future energy needs, and are heavily investing in the research and development of the technologies and industries that are needed to tap into these essentially unlimited sources of energy [1]. According to World Energy Outlook 2019, published by the International Energy Agency, offshore wind power has the technological potential to satisfy several times the current electricity demand and, within 10 years, will have a cost comparable to fossil fuels. Backed by the government’s policies and the goal of reduced cost of technology, the industry is expected to grow into a 1-trillion USD industry in the 20 years [3]
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