WAVE ENERGY CONVERTERS. R38/25kW - R38/50kW - R115/75kW - R115/150Kw

Transcription

1 WVE ENERGY ONVERTERS R8/kW - R8/0kW - R/7kW - R/0Kw

2 OVERVIEW Michele Grassi is a mathematician who graduated from Scuola Normale Superiore in Pisa, Italy, and gained a Ph in mathematics from the University of alifornia, Los ngeles. In 00 he had an idea for an innovative method for extracting energy from waves. fter the initial preliminary studies, in 00 he submitted a first PT patent application which covers the extraction method. fterwards, he submitted other patent applications, covering other innovative features of the machines. In 007 he created 0South Energy Srl in Pisa and in 008 0South Energy Ltd in London to commercialize the machines globally. In 007 first prototypes in reduced scale are tested offshore. We decided to proceed in stealth mode, with a small but very focussed team, outsorcing most (but not all) fabrication to external firms with which we established a very tight relationship, so that we could monitor and intervene in all phases of construction. This setup allowed us to complete a number of milestones in a very short period of time, without NY public grants at all (either from the UK Government, the EU or any other public body), while being in contact with the Wave Energy group at NV since the summer of 008. In 00 the Italian bank Monte dei Paschi di Siena provided a loan to finance the construction of the first full scale precommercial prototype of a 00kW machine. In the summer of 00 Zurich agreed to insure our machines (for damages against third parties), due to the intrinsic multi-layered security measures (both active and passive) incorporated already in the 00t prototype. We have had steel in the water from the fall of 007, implementing a very steep learning curve with a succession of ever bigger and more sophisticated prototypes. We already tested offshore a second generation of full scale machines, and we are going to deploy the third generation soon. The tests of Yt (see main photograph) among other things validated the computerized models that we use to estimate the capacity factor in a given site, once we know the wave statistics for it. 007: 0South Energy Srl formed in Pisa 007: first prototypes in reduced scale tested offshore 008: 0South Energy Limited formed in London 009: offshore testing of mechanical : scale model 00: offshore testing of first full scale 00KW machine 0: offshore operation for days of Series prototype 0: first Wave Energy Park (Maldives); 0: finalized commercial lineup for 0; 0: preliminary agreement for sale to a major Utility, starting with one R/0kW. 0: reached a collaboration agreement with Plymouth University. We concluded an agreement for sale in a beautiful island of the Maldives, Vavvaru, and we are also in advanced negotiations in a grid connected site in Liguria, Italy. We have many other commercial leads all over the world. urrently 0South Energy employs engineers, scientists, technicians and scuba divers, and has the capacity to build, install, operate and maintain its wave energy converters. Michele Grassi has been the hairman and EO of 0South Energy since the start, and has overseen its evolution from pure R& to be the first company commercializing a whole family of modular wave energy converters. 0South Energy Ltd signed a contract with Plymouth University to establish a base of operation in its new marine facility on campus. The deal comes hot on the heels of plans being announced to establish the South West as home to the country s first Marine Energy Park.

3 The radical design of our wave energy converters lets you reap the benefits of commercial wave energy while avoiding the drawbacks of conventional installations. The 0South Energy wave energy converters are formed by three sub-systems (see diagram below): Our Wave Energy onverters Work In ll Sea onditions. This ability to vary depth dynamically and automatically in response to any changes in the state of the sea also guarantees that the very same machines can operate across the globe. Whether the installation is in Orkney, Tuscany, or Oregon, the machine will work within the same operational limits. THE TEHNOLOGY The Upper Members, kept near the water surface The Lower Member, kept deeper and below the Upper Members The mooring system (not shown) Using our innovative (and patented) transmission system, the relative motion of the Lower and Upper members is converted directly into electricity on the machine. The wave machines from 0South Energy are based on several innovative solutions, which allow them, among other things, to move up and down autonomously in the water column, to seek their nominal energy level. Wave Energy onverters From ommunity Scale To Utility Scale Our machines are ideal from centralized (utility scale) generation to distributed (community scale) generation, so no matter the location or purpose, 0South Energy machines can meet your commercial wave energy requirements. t any scale, Wave Energy Parks collect several wave machines in a unified energy production site, and are sizable from kw to several Megawatts. Wave Energy Parks are typically owned and operated by third parties, which guarantee O&M of the wave machines, for a fee. This has some immediate benefits, such as: Machine never exposed to excessive loads Extremely high capacity factor Low capital cost and reduced maintenance

4 R 8/kW - TEHNIL T OVERVIEW Rated power: Upper Member Volume: Lower Member Lenght: Lower Member shape Sea epth: Sea condition: onversion System Trasmission line Mooring NUMER of OMPONENTS Upper Member Lower Member TEP 8 Mooring Weights POWER KW max power -0% capacity factor TEP OMPONENTS Generators Trasmission system Power electronics ontrol electronics LIST PRIE kw 8 m m Rail type arrangement > 0 m nyone Elettro-Mechanical elts Two gravity bases INSTLLTION able, connector and the mooring prepared in advance. Machines assembled in the harbor. Machines towed on site with a standard towboat. Machine connected to the mooring and to the electrical cable. Machines instructed remotely by 0South Energy to find autonomously its position. No need for scuba divers or ROVs. MNTEINNE The first level (on site) ordinary maintenance is carried out by the Wave Energy Park personnel. The personnel can be sourced locally and trained by 0South Energy. The operations consist of removing the TEP modules from the machine and replacing them with spares. The spares are shipped in advance by 0South Energy R 8/kW,000

5 R 8/0kW - TEHNIL T OVERVIEW Rated power: Upper Member Volume: Lower Member Lenght: Lower Member shape Sea epth: Sea condition: onversion System Trasmission line Mooring NUMER of OMPONENTS Upper Member Lower Member TEP 8 Mooring Weights POWER 0 KW max power -% capacity factor TEP OMPONENTS Generators Trasmission system Power electronics ontrol electronics LIST PRIE 0 kw 8 m m Rail type arrangement > 0 m nyone Elettro-Mechanical elts Two gravity bases INSTLLTION able, connector and the mooring prepared in advance. Machines assembled in the harbor. Machines towed on site with a standard towboat. Machine connected to the mooring and to the electrical cable. Machines instructed remotely by 0South Energy to find autonomously its position. No need for scuba divers or ROVs. MNTEINNE The first level (on site) ordinary maintenance is carried out by the Wave Energy Park personnel. The personnel can be sourced locally and trained by 0South Energy. The operations consist of removing the TEP modules from the machine and replacing them with spares. The spares are shipped in advance by 0South Energy R 8/0kW,000

6 R /7kW - TEHNIL T OVERVIEW Rated power: Upper Member Volume: Lower Member Lenght: Lower Member shape Sea epth: Sea condition: onversion System Trasmission line Mooring NUMER of OMPONENTS Upper Member Lower Member TEP 8 Mooring Weights POWER 7 KW max power -0% capacity factor TEP OMPONENTS Generators Trasmission system Power electronics ontrol electronics LIST PRIE 7 kw m m Rail type arrangement > 0 m nyone Elettro-Mechanical elts Two gravity bases INSTLLTION able, connector and the mooring prepared in advance. Machines assembled in the harbor. Machines towed on site with a standard towboat. Machine connected to the mooring and to the electrical cable. Machines instructed remotely by 0South Energy to find autonomously its position. No need for scuba divers or ROVs. MNTEINNE The first level (on site) ordinary maintenance is carried out by the Wave Energy Park personnel. The personnel can be sourced locally and trained by 0South Energy. The operations consist of removing the TEP modules from the machine and replacing them with spares. The spares are shipped in advance by 0South Energy R /7kW 00,000

7 R /0kW - TEHNIL T OVERVIEW Rated power: Upper Member Volume: Lower Member Lenght: Lower Member shape Sea epth: Sea condition: onversion System Trasmission line Mooring NUMER of OMPONENTS Upper Member Lower Member TEP 8 Mooring Weights POWER 0 KW max power -% capacity factor TEP OMPONENTS Generators Trasmission system Power electronics ontrol electronics LIST PRIE 0 kw m m Rail type arrangement > 0 m nyone Elettro-Mechanical elts Two gravity bases INSTLLTION able, connector and the mooring prepared in advance. Machines assembled in the harbor. Machines towed on site with a standard towboat. Machine connected to the mooring and to the electrical cable. Machines instructed remotely by 0South Energy to find autonomously its position. No need for scuba divers or ROVs. MNTEINNE The first level (on site) ordinary maintenance is carried out by the Wave Energy Park personnel. The personnel can be sourced locally and trained by 0South Energy. The operations consist of removing the TEP modules from the machine and replacing them with spares. The spares are shipped in advance by 0South Energy R /0kW 00,000

8 Wave Energy onverters are located inside Wave Energy Parks, which consist of a consented sea area, an electrical cable reaching the user of the electricity and a light local support infrastructure. Wave Energy Parks are the service hubs for the Wave Energy ecosystem. bsence of interference with navigation Our Wave devices can be installed in front of major harbors, because they can be sunk to avoid collision with ships. If the port control has an override to the automatic depth control of the machines, it can sink them when it envisages possible problems with transits. WVE ENERGY PRKS omparison with offshore aquaculture The consented area for the Wave Energy Park itself is very similar to the one necessary for offshore aquaculture, although in the Wave Energy case the environmental impact of the installation is much lower. omparison with offshore wind The concession of the area, to be used for the production of electricity, will benefit significantly from the presence in the jurisdiction of a documented process for the concession of marine areas for offshore wind parks. lso in this case however the environmental impact of the Wave Energy Park is much lower than that of an offshore wind park, both in terms of impact on sea life and in terms of visual impact. bsence of interference with fishing The presence of a Wave Energy Park has provided advantages to the local fishing community because the Wave Energy Park is naturally a source of increased sea life. The presence of a Wave Energy Park can help the local fishing community perform a generation jump in terms of productivity and security of its activity. Installation, operations and maintenance: The machines are assembled in the harbor, and towed to the Wave Energy Park site with a standard towboat, where the electrical cable and connector and the mooring had been prepared in advance. The machines are then connected to the mooring and to the electrical cable, and then are instructed remotely by 0South Energy to find autonomously its position. uring all these procedures there is no need for scuba divers or ROVs The first level (on site) ordinary maintenance is carried out by the Wave Energy Park personnel, who can be sourced locally and trained by 0South Energy. The operations consist of removing the TEP modules from the machine and replacing them with the spares shipped in in advance by 0South Energy. TEP modules: ll moving parts, the electronics and control systems are housed in removable modules called TEP (for Transmission Electronics and Power ). The TEP modules contain the electrical generators, the transmission system and the power electronics and control electronics. The system is purely electrical-mechanical, and this guarantees high conversion efficiencies and long maintenance cycles.

9 WVE ENERGY PRK-THE PROESS THE PROESS IS S FOLLOWS: Wave energy park promoter The potential park owner contacts 0South Energy, with a general idea on the possible location for a Wave Energy Park (WEP for short) and an expression of generic interest in the setup of this economic activity. Preliminary feasibility study 0South Energy makes a preliminary feasibility assessment, identifying more specific locations where it is technically viable to install the WEP, and performs a preliminary economic estimate of the productivity and economic productivity of the activity. Feasibility study If the numbers match with the promoter s expectations, a mandate for a more in-depth feasibility study is given to 0South Energy. This more in-depth study will include a preliminary Impact ssessment, a preliminary installation and O&M cost estimate, a preliminary consenting roadmap and a preliminary profitability estimate for the machine owners and for the Park owner. Promoter, machine owners, park developer and epc contractors Using the documentation prepared by 0South Energy during the feasibility study, the promoter (with the support of 0South Energy if required) looks for parties interested in installing their own Wave Energy onverters in the WEP, and signs with them preliminary agreements containing all the economic conditions. The promoter begins looking for energy users interested in buying the energy produced by the machines in the park, and it also looks for a Park developer (which could coincide with the promoter). The Park eveloper looks for a Park operator (which could again coincide with the promoter), for components suppliers and for EP contractors (which could in part coincide with 0South Energy) which will build all the components of the WEP. The Park developer sets up the project, including its financial structure, and helps the potential machine owners (if required) in structuring their side of the deal from a financial point of view. ontracts With a complete set of preliminary documents, the WEP promoter signs the EP contracts, the O&M agreements for first level maintenance (with the Park operator) and second level maintenance (with 0South Energy), and signs the contracts with the machine owners (which can be leasing agreements with financial institutions) and the financing packages where present. It also signs the power purchase agreement (PP) with the energy users. In parallel 0South Energy signs the sales contracts with the machine owners. The machine buyers do not have to deal with any technical due diligence, and although the single operations can be of small size, the product wave machine is completely standardized even across different jurisdictions; this makes the leverage of Project Finance more easily accessible. onsenting process The consenting process is started, and it can take between months and 8 months depending on the specific jurisdiction. WEP setting up Only after all of the previous phases are concluded the WEP construction could start. The construction consists in cable installation, in signals positioning and onshore electrical infrastructure. Once the WEP is completed in all of its parts 0South Energy evaluates it in order to release a certificate of conformity, that allows the WEP to receive the machines. This certification is necessary to obtain second level manteinance by 0South Energy. In the meantime, once the key development milestones for the WEP are reached, 0South Energy builds the Wave Energy onverter(s) which will go in the WEP. First electricity is produced, and the WEP is ready to accept further machines (in case it was built with spare capacity).

10 WVE ENERGY PRK-USINESS MOEL The illustration on the right explains the essential structure of a Wave Energy Park. The structure departs slightly from the usual one for, say, offshore wind, because here the focal point is the Wave Energy Park owner. The Wave Energy Park owner acts as a distributor for the machines, and as an interface between the machine owners and the energy users. It is also the coordinator of the consenting process and of the construction and operation of the Wave Energy Park. The Wave Energy Park signs Power Purchase greements (PP) with the electricity users, to guarantee its income. The Wave Energy Park owner can also be the machine owner (as in the case of a Utility), so that the scheme collapses to the standard one in which a Utility buys the machines and commissions to an EP contractor the setup and operation of the Wave Energy Park. In this case, however, typically the IRR of the Wave Energy Park can be set to zero (or near zero), so that the power purchase agreement must only cover the LOE of the Wave Energy Park. In these situations 0South Energy Group can take over the Wave Energy Park operations, at least in part, if requested. The machine buyers rent the machines bought from 0South Energy Group to the Wave Energy Park, which acts as a distributor and then uses them to produce energy. In some respects the machine owners act as (and could well be) a leasing company, but they can be also an ad-hoc company built to enable project finance. The return in investment associated with the operation (IRR) is fixed at the signature of the contracts. machine buyer can even set up an operation in which the machines are placed in different Wave Energy Parks across different jurisdictions deliberately, to hedge its risks. This allows for operations very large size, even if every single Wave Energy Park may absorb only part of them. In another situation (as in the case of very small installations) the machine owner can coincide with the electricity user. The Wave Energy Park can request that 0South Energy provide a capacity factor certificate. If this is in place, it is possible to price the machines on average power instead of nominal power. This guarantees to the machine owners a predetermined IRR independent of the actual production of the machine while, in addition, shielding the Wave Energy Park from the risks associated with having a fixed cost and an income linked to production. In Wave Energy Parks with a certified capacity factor, we propose to the machine buyers a competitive price per average watt based on the expected capacity factor and size of the order.

11 WVE ENERGY PRK-EONOMIS In locations not connected to a grid, both on islands and on remote continental locations, our machines can be competitive economically even without any green incentives. We compute three scenarios for a years installation, assuming no debt in the financing of the Wave Energy Park operation, and a financing at % of spread LIOR over 0 years of 0% of the Park installation, with capacity factors at: % (Mediterranean sea) % (low latitude ocean) % (high latitude ocean) ap factor /nominal watt /average watt Onshore wind-uk R8/0kW-UK Offshore wind-uk Solar PV-India 0.8 Solar PV-Italy Solar PV-UK Here is a hypothetical cost breakdown for a 00 KW installation near shore: 0 R8/0 kw.m Laying 0.NM of cable 0.M (0% of PEX) Load balancing inverter 0.M (8% of PEX) O&M,0 /y (.% of PEX) If the Wave Energy Park owner is also the Machines owner, and is interested in obtaining the electricity at the cheapest price, the Power Purchase greement (PP) must cover only the Levelized ost Of Energy (LOE) of the Wave Energy Park. We call this a service only Wave Energy Park. % certified capacity factor: The Wave Energy Park operator pays a machines rent (or leasing fee) of 0 /MWh (blue area on diagram), to give the owners an IRR of 0%. It faces an investment of 0,000 and an annual cost of,0 for operations and maintenance for a 0.MW plant. The LOE for such an operation (blue+red areas on diagram) is in the order of /MWh. % certified capacity factor: The Wave Energy Park pays a machines rent (or leasing fee) of /MWh, to give the owners an IRR of 0%. The LOE for such an operation is in the order of /MWh. % certified capacity factor: The Wave Energy Park operator pays a machines rent (or leasing fee) of 89 /MWh, to give the owners an IRR of 0%. The LOE for such an operation is in the order of 8 /MWh. %.F. %.F. %.F. Levelized ost Of Energy (LOE) in /MWh Machines rent WEP osts

12 SE STUY: VVVRU (MLIVES) Korallion lab ( is a very interesting project: a Marine Research Laboratory on a beautiful island in the Maldives, Vavvaru (see the main picture). s part of the project, the lab promoters want to reduce to a minimum the carbon footprint of the island. Photovoltaics are hardly an option, given the very reduced surface of the island, and therefore they chose to use one of our R8/kW machines. elivery expected for late 0, when the lab will be up and running. Given the reduced consumption by the island, the machine Monitoring nd ontrol System Power generation and distribution for Vavvaru island Variable Speed Generator Variable Speed Generator Wave Energy will be used in Series configuration, with power limited to kw (i.e. it will be an R8/kW). This will also insure a higher capacity factor for the machine, once considered as a kw one, with respect to a plain R8/0kW version. The electrical scheme of the island includes the R8/kW, two small diesel generators and an Energy uffer; all of these parts have to be managed in order to guarantee the power supply continuity. This small smart grid will be provided, thanks to its expertise, by 0South Energy. / onverter / onverter Energy uffer -us Inverter 00Vac p+n 0Hz

13 ONTTS TLE OF ONTENTS OVERVIEW 0South Energy Ltd Hanover Square WSHT London, UK Phone: THE TEHNOLOGY R8/kW TEHNIL T R8/0kW TEHNIL T R/7kW TEHNIL T R/0kW TEHNIL T WVE ENERGY PRKS (WEPs) WEP - THE PROESS WEP - USINESS MOEL WEP - EONOMIS SE STUY: VVVRU (MLIVES)