Presentation Transcript

1. Wave Energy conversion for communities

   Mr Michele Grassi Chairman and CEO 40South Energy Ltd
2. Introduction The high profile failures of most of the approaches to wave energy have deterred potential users, who have opted for other solutions (solar, wind, biomass). This is unfortunate as in several situations, like community scale applications, wave energy has many distinctive advantages The approach to wave energy conversion followed by 40South Energy is different in many respects with respect to the traditional ones, and solves the technical problems which inhibited the sector until now
3. Introduction In this presentation we will: Describe briefly the 40South Energy technology and its innovative approach to wave energy Analyse the distinctive advantages of wave energy in community scale application Describe the Punta Righini test site and the activities being carried out there over the past three years Describe our ongoing Scilly Airport project and its potential financing through the innovative crowdfunding model
4. The R115 machines
5. R115 – working principle The machine is formed by two main parts, Upper Member (parallelepiped with 115 cubic meters of displacement) and Lower Member (two “rails”38 meters long and positioned at approximately 25m of depth) The relative motion between Upper and Lower member is used to generate electricity via electrical generators hosted on the machine. Electricity is then carried to shore with a cable which descends along the mooring lines (not represented in the drawing)
6. R115 – distinctive features The machine continuously adapts its depth by moving in the water column. This is done to adapt to the wave climate, so that the structures are always exposed to nominal loads alone By being exposed only to nominal loads, the machine can be much lighter and cheaper than devices which are forced to remain on the water surface. This reduces CAPEX and OPEX, and in the end results in a Levelized Cost of Energy (LCOE) which is competitive with other renewable sources (and in some situations with the grid) The machines are lightweight and comparatively small. Their launch can be performed with a small crane from basically any harbour
7. Launch of the first R115
8. Statistical properties of wave energy generation Statistical distribution of wave energy over time is not directly correlated to wind or solar irradiation. Moreover, the capacity factor (kWh/kW) of wave energy is typically two-three times that of solar PV, and almost twice that of onshore wind This fact in itself is a reason to use wave energy over other renewables in applications where availability is crucial (or alongside them, especially in case they have already been deployed)
9. Availability of wave energy As mentioned before, wave energy is present for an amount of hours which is significantly higher than that of the main renewables (wind and solar PV) The approach of 40South Energy adds to that the fact that the machine potentially produces a sizable fraction of nominal power over a vast range of wave energy states. To compensate the excessive production that this would cause during high energy events (storms) the machine automatically sinks. In other words, we have delinked the requirement of survivability from that of efficiency. This results in a machine which produces significant amounts of energy for extended periods of time, without for that suffering in survivability or in cost for over engineering
10. Installation costs and logistics Our machines can be towed in place and linked to their mooring from the surface, without the need for scuba divers or special purpose boats/barges For the installation of the mooring weights, we can use small barges if available, or resort to self-floating mooring weights where that is not the case Overall, installation of a whole Wave Energy Park can be carried out in a few days. Scuba divers might be needed to assist during the laying of the shallow water part of the cable path, in case on the sea floor there are high value ecosystems that need to be protected. It should be noted that the cable for a 1MW WEP is very small and will cause a negligible impact on the sea floor
11. The Punta Righini test site Our test site is positioned approximately 1.5Nm offshore of Punta Righini, close to the Tuscan town of Castiglioncello. It is 2Nm from the Cala de’ Medici harbour, where we have our logistics base The site is consented for up to 4 machines of type R115 in a test configuration, and is receiving the first R115 machine for initial commissioning. The commissioning will last approximately 2 months, after which the machine will be towed to shore and analysed
12. The Punta Righinitest site
13. The Punta Righini test site Together with a small energy generating company we are in the process of converting the site to a productive one, with the installation of an electrical cable to shore. Once this transition will be complete, we will install 4 machines of type R115 for a total production of 600kW We plan to reuse the mooring weights which have been installed for the first (test) R115 also for one of these subsequent R115 machines
14. The Punta Righini test site
15. Punta Righini – scientific dives
16. Punta Righini – scientific dives During the years we performed several scientific dives at the site, to monitor the environmental impact of our installations and the performance of the installations themselves The R115 machines however do not require diving activity (or ROVs) to be installed, operated or removed
17. Mooring weights
18. Mooring weights For the installation of the mooring weights for the first R115 we chose to use a barge, given its availability in the area
19. Machine installation
20. Machine installation During the next few days the machine will be towed in place and will start production The test site is not yet grid connected, therefore the energy produced will be dissipated into heat, simulating the load of the grid Once testing will be complete, we will tow the machine to shore, disassemble it to check all components, and after that we will tow it a the Elba Island production site which is completing consenting
21. Wave energy as a primary energy source for small communities Given the high availability, high capacity factor and the capacity to limit power within a pre-set range, our wave energy converters are particularly useful in situations where the main power source is diesel or where the electricity supply is not continuous. Other ideal situations are those where, even if the grid is present, the wave resource is abundant. A small scale Wave Energy Park will have strong local ties, in terms of supply of personnel and vessels and of consenting procedures. Efficient design, construction and operation require direct knowledge of the site The local community can benefit from the involvement in financing of their Wave Energy Park. First, they can gain financial benefit from the local wave resource. Second, control of the WEP will guarantee that most of the operations will be carried out by local personnel and vessels, when possible. The direct knowledge of the site and of the activities at the WEP bring in automatically a reduction of risk for the community
22. The company is working to develop a WEP project just off the Scilly Isles The WEP will contain three R115/150kW, expanding with larger machines later.Two R115 have already being bought by a Real Estate Investment company Permitting and consenting process in progress

    Case study: Scilly Airport Wave Energy Park

    The project brings distinctive advantages to the Scilly Isles: Logistics: The local harbour can handle 40South Energy machines Environment: There is almost no visual impact and no land use Cost: Low capital and energy costs
23. Crowdfunding and WEPs The most flexible way to involve directly the community in the WEP is through a form of crowdfunding. This does not exclude the possible participation from individuals from other locations, especially for WEPs with a high social value The crowdfunding approach to infrastructure financing for small scale Wave Energy Parks, with direct community involvement, brings to fruition one of the key advantages of crowdfunding, namely its social value. The community is all part of a project which brings to it direct environmental and financial benefits
24. Disclaimer This presentation is for informational purposes only and is of a general and summary nature. It does not, and is not intended to, constitute advice on any of the topics herein. Before entering into any financial arrangement, you should seek your own financial, legal and tax advice. This document does not represent any form of invitation or solicitation to invest. The matters discussed herein will not be suitable for every situation and professional advice should be sought be entering into any such arrangements.