Articles on Issue Theme
Cătălin MURARAŞU
Academia de Studii Economice din Bucureşti
The research investigates the viability of developing offshore wind farms in the European Area of the Black Sea region. Moreover, the analysis highlights that renewable energy could be a strategic advantage for the developing Pontic states and potentially enhance their economic cooperation. The study conducts a comprehensive analysis of wind speed, direction, and consistency at eight sites along the Black Sea offshore areas of Romania, Bulgaria, and Turkey. Furthermore, it assesses the economic viability of four commercially available offshore wind turbines by calculating their levelized cost of energy (LCOE). The results of the analysis show that the production of renewable energy in the Black Sea offshore area is economically comparable to that of the most profitable areas in Europe. The article also offers some recommendations for national authorities – responsible for improving legislative frameworks and developing transport infrastructure – and economic operators interested in investing in such projects.
ŒCONOMICA no. 1/2025
Keywords: renewable energy, wind power, offshore, Black Sea, security, levelized cost of energy
JEL: O13, P18, P48, Q42
Offshore Renewable Energy in the Black Sea: Emerging Opportunities and Challenges
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Octavian-Dragomir JORA
Academia de Studii Economice din Bucureşti
Mara Andreea TUDOR
University of Chicago
Cătălin MURARAŞU
Academia de Studii Economice din Bucureşti
Ramona Iulia DIEACONESCU
Academia de Studii Economice din Bucureşti
Maria GHEORGHE (NIŢU)
Academia de Studii Economice din Bucureşti
Sorin-Nicolae CURCĂ
Academia Română
Revista ŒCONOMICA
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