Offshore renewable energy has a high potential for ensuring the successful implementation of the European decarbonization agenda planned for the near future. Hybrid wind-wave farms can reduce installation and maintenance costs, and increase the renewable energy availability of a location by compensating for the wind’s intermittent nature with good wave conditions. In addition, wave farms can provide protection to wind farms, and the combined wind/wave farm can provide coastal protection. This work aims to assess the future hybrid wind-wave energy resource for the northwest coast of Iberian Peninsula for the near future (2026–2045), under the RCP 8.5 greenhouse gas emission scenario. This assessment was accomplished by applying a Delphi classification method to define four categories, aiming to evaluate the richness (wind and wave energy availability, downtime), the variability (temporal variation), the environmental risk (extreme events), and cost parameters (water depth and distance to coast) of the wind and wave resources. The combined index (CI), which classifies the hybrid wind-wave resource, shows that most of the NW Iberian Peninsula presents good conditions (CI > 0.6) for exploiting energy from wind and wave resources simultaneously. Additionally, there are some particularly optimal areas (CI > 0.7), such as the region near Cape Roca, and the Galician coast.

Wind energy resources are subject to changes in climate, so the use of wind energy density projections in the near future is essential to determine the viability and profitability of wind farms at particular locations. Thus, a step forward in determining the economic assessment of floating offshore wind farms was taken by considering current and near-future wind energy resources in assessing the main parameters that determine the economic viability (net present value, internal rate of return, and levelized cost of energy) of wind farms. This study was carried out along the Atlantic coast from Brest to Cape St. Vincent. Results show that the future reduction in wind energy density (2%–6%) mainly affects the net present value (NPV) of the farm and has little influence on the levelized cost of energy (LCOE). This study provides a good estimate of the economic viability of OWFs (Offshore Wind Farms) by taking into account how wind resources can vary due to climate change over the lifetime of the farm.