Periodic Reporting for period 1 - EURO-TIDES (EUROpean Tidal energy pilot farm focused on Industrial Design, Environmental mitigation and Sustainability)
Okres sprawozdawczy: 2023-12-01 do 2025-05-31
1. De-risking tidal energy technology development by delivering a 9.6MW pilot farm and three pilot farm system innovations; reducing Levelised Cost of Energy (LCOE) of Orbital’s floating tidal technology from €120/MWh to <€100/MWh.
2. Increase bankability and insurability by providing 17,520 hours of operational data, displaying the production of 50GWh+, and verification of key technology metrics to internationally recognised methodologies: reducing cost of capital from 10%-12% to 5%-6%.
3. Increase availability of tidal stream technology by creating an effective, robust, replicable, and reliable operations and maintenance programme: increasing availability to 95%+.
4. Improve market confidence by developing industrial design and manufacturing processes: increasing supply chain capacity from one device per annum to 80 devices per annum.
5. Increase knowledge of environmental impacts to ensure appropriate environmental protection and mitigation is in place: enabling safe scalability to a 100GW+ global market.
6. Making performance, reliability and behavior data collected from the demonstration pilot farm publicly available: accelerating scalability, commercialisation, and deployment of a 2GW+ project pipeline.
Progress have been made in identifying floating tidal turbine manufacturing process improvement opportunities to reduce costs in line with project targets.
Activities have been progressed in this period toward preparation for onshore testing at CWD’s facilities to address component reliability and derisking to support the increase in availability levels to 95% targeted in the project.
A third-party Technology Appraisal process that has been completed in this period, the outcome of which was a Technology Qualification Plan to define qualification activities that will now be progressed to address technology risks and unknowns such that they are completed by the end of the project.
The development of a farm level integrated environmental monitoring system (F-IEMS) has progressed.
In parallel, there have been excellent progress in advancing the targeted 2 GW+ project pipeline for floating tidal energy.
De-risking tidal energy technology development and increased bankability and insurability to enable development of 2GW+ of tidal stream by 2030 towards a sustainable, secure and competitive energy supply.
Advancing European technology leadership will increase availability and improve market confidence in the technology for European suppliers, tidal technology components and services providers, developing a
100GW/€500bn international market.
Advancing a climate neutral energy supply with 100GW+ global potential through increasing knowledge of environmental impacts of tidal energy, collecting 17,250 hours of operational data and making it publicly available
Delivering 10GW of disruptive renewable energy source to support open strategic autonomy and a diverse technology portfolio, whilst reducing supply–demand balancing by 25%19 in the transition to a net zero energy system.
Delivering Affordable energy to address Societal Needs and Preferences, whilst reducing required total land/sea space by 33%.
Creation of over 32,000 FTE years in a leading European clean energy supply chain.
Improving technology environmental sustainability by offsetting 24,650,000 tonnes of CO2 equivalent.