FEATURE SPONSOR
FOCUS ON IRELAND
GLOBAL LEADER IN THE DEVELOPMENT OF OCEAN ENERGY TECHNOLOGIES
Typical WEC which can be assessed by OptiWave
Next generation platform for financial and engineering modelling of wave energy systems – the state of play for ocean Energy from a European perspective
Europe is a global leader in the development of ocean energy technologies, with 52% of all tidal stream and 60% of all wave energy developers based in the region. This relatively dominant position arises from the substantial ocean energy resource that exists in European waters, the ambition to decarbonise Europe’s electricity generation and the continued investment in European R&D facilities.
EMERGING STAGE Nonetheless, even with European support the ocean energy sector is at an emerging stage, which means developers must secure investment from the high-risk end of venture capital markets. This in turn drives a need for robust standards and practices in the financial and engineering assessment of ocean energy systems.
NEW SOFTWARE PLATFORM TO ADDRESS SECTOR’S NEEDS Wood and Exceedence have developed an integrated financial and engineering platform for the assessment of wave energy systems.
This software platform is aimed at the main stakeholders in the project supply chain, including funders and financiers.
There are two main components to the new platform… » A cloud based financial modelling tool from Exceedence which calculates accurate financial metrics through sharing of wave resource information with
» An engineering simulator package from Wood that predicts realistic power curves for wave energy converters acting under the given wave resource
The combined offering brings together the considerable expertise of both companies in their respective fields and the resulting synergy allows end users to realistically assess and optimise their wave energy projects.
COMBINED VALUE OF NEW PLATFORM
The new platform informs stakeholders of key performance metrics, such as Energy Yield, Capacity Factor, Levelised Cost of Energy, etc,
WEC Power Curve from OptiWave
throughout all stages of a project life cycle. These metrics are derived using accurate engineering simulations of power performance for a given system. The guidance from the platform helps de-risk projects and improve investor confidence, thereby reducing barriers to the development of wave energy systems.
It is also worth highlighting that the collaborative development of the platform is being supported by the SEAI which recognises its potential benefits to the ocean energy sector.
Wood and Exceedence
WEBSITE
www.wavetidalenergynetwork.co.uk 35
SCAN/CLICK
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49
