Renewable energy systems are essential in coming years to ensure an efficient energy supply while maintaining environmental protection. Despite having low environmental impacts during operation, other phases of the life cycle need to be accounted for. This study presents a geo‐located life cycle assessment of an emerging technology, namely, floating offshore wind farms. It is developed and applied to a pilot project in the Mediterranean Sea. The materials inventory is based on real data from suppliers and coupled to a parameterized model which exploits a geographic information system wind database to estimate electricity production. This multi‐criteria assessment identified the extraction and transformation of materials as the main contributor to environmental impacts such as climate change (70% of the total 22.3 g CO2 eq/kWh), water use (73% of 6.7 L/kWh), and air quality (76% of 25.2 mg PM2.5/kWh), mainly because of the floater's manufacture. The results corroborate the low environmental impact of this emerging technology compared to other energy sources. The electricity production estimates, based on geo‐located wind data, were found to be a critical component of the model that affects environmental performance. Sensitivity analyses highlighted the importance of the project's lifetime, which was the main parameter responsible for variations in the analyzed categories. Background uncertainties should be analyzed but may be reduced by focusing data collection on significant contributors. Geo‐located modeling proved to be an effective technique to account for geographical variability of renewable energy technologies and contribute to decision‐making processes leading to their development.