In a recent paper, He et al. (2022) make a cost-benefit analysis of co-locating green hydrogen production on the transformer station of offshore wind farms. They analyse the Levelized Cost of Hydrogen (LCOH) for scenarios where hydrogen production capacity increase from 0% to 100% of the wind farm power capacity and for different shore distances. Results show that both LCOH and LCOE decrease with increasing hydrogen production. Still, the optimal hydrogen/power ratio that maximises the Internal Rate of Return (IRR) depends on assumed electricity and hydrogen sales prices.

He, Wei, Yi Zheng, Shi You, Goran Strbac, Kasper T. Therkildsen, Gudmund P. Olsen, Aaron Howie, Eirik Byklum, and Kamran T. Sharifabadi. 2022. “Case Study on the Benefits and Risks of Green Hydrogen Production Co-Location at Offshore Wind Farms.” Journal of Physics: Conference Series 2265 (4): 042035. https://doi.org/10.1088/1742-6596/2265/4/042035.