@article{Panaitescu_Panaitescu_Voicu_Nedkova_Vasilica_2025_2,
	author = {Panaitescu, Fanel-Viorel and Panaitescu, Mariana and Voicu, Ionut and Nedkova, Sabina and Vasilica, Florentina Aurelia},
	title = {Energy Production and Economic Impact in the Black Sea Blue Economy},
	journal = {TransNav, the International Journal on Marine Navigation and Safety of Sea Transportation},
	volume = {19},
	number = {2},
	pages = {659-666},
	year = {2025},
	url = {./Article_Energy_Production_and_Economic_Panaitescu,74,1547.html},
	abstract = {The generation of energy production obtained with the help of renewable resources contributes to the reduction of carbon emissions and to the consolidation of energy security in the area, as well as to the development of the necessary infrastructure for socio-economic development in the coastal and offshore area. The objectives of paper are specific to a certain location in the Black Sea, namely: obtaining wind energy production using an efficient design of a pilot floating system, using a wind dataset for optimized design floating system, calculation of the levelized cost of electricity for wind energy (LCOE) and impact with market value of wind energy production in the Black Sea Blue economy. The methods used are: the Froude scaling methodology was used for design of pilot floating system, metocean analytics for obtained metocean data (wind, waves, currents), monitoring the state of pilot floating system components using Digital Twin Technology (DT), economic modeling of technology-specific LCOE of renewable technologies (Specific Investment Cost-CAPEX, Operating Cost-OPEX) in comparison with respect to the current level of LCOE at local conditions in the Black Sea and PESTEL analysis (Political, Economic, Social, Technological, Environmental and Legal impact).The final data obtained for the achievement of the proposed objectives are results obtained during the implementation of the BLOW project: an optimized design for the study location with reduced costs for operation and maintenance, optimized parameters using metocean data, societal, environmental and economic impact assessment with barriers and obstacles. The conclusion is that globally, the development of a floating offshore wind energy market is emerging rapidly as experience and knowledge is gained from pilot projects. },
	doi = {10.12716/1001.19.02.37},
	issn = {2083-6473},
	publisher = {Gdynia Maritime University, Faculty of Navigation},
	keywords = {Environment Protection, Energy Efficiency, Technological Innovations, Renewable energy, Hydrogen Energy, Energy Mix, Cost of Electricity Production, Sustainable Energy}
}