Objective Europe has a large amount of unexploited resources across the offshore renewable sector due to the inexistence of suitable technologies for deep waters, where a large amount of high energy intensity combined resource (wind and wave) exists. Also, in a long term, offshore wind farms will be required to move to deeper waters (> 45m), due to the lack of suitable shallow water sites and the desire to harness better energy resources. At these depths, fixed foundations are not economically viable. For this reason, there is a clear need to approach different concepts that enable deployment in deeper waters, such as floating devices.Floating Power Plant A/S and linked third pary Floating Power Plant Ltd (FPP), aims to pursue a major opportunity by bringing its innovative hybrid concept – an offshore-proven, floating, wind and wave power plant – to commercial maturity. Specifically, with POSEIDON, FPP aims to go a step further in its business strategy by overcoming the key barriers that may hinder the successful market uptake of its commercial-scale device – the P80.The innovation project activities will be focused in the UK (primary target market).P80 is based on a unique patented technology, which presents several advantages when compared with current offshore renewable concepts: facilitates deployment in deeper waters; enables higher energy yields; allows a reduction in capital costs due to shared foundations, grid infrastructure, and platform (between wind and wave); and allows a reduction in O&M costs due to its unique safe harbour. Overall this translates into a reduction of LCOE (up to € 0.13/kWh) which is the ultimate objective of the EU offshore renewables industry in order to become competitive.POSEIDON is expected to significantly enhance the profitability of FPP, with an expected turnover of €1 billion, 5 years post-project. Moreover, the successful achievement of the project objectives is expected to advance Europe along the path to an energy system that will deliver a competitive and secure energy supply. Fields of science engineering and technologyenvironmental engineeringenergy and fuelsrenewable energy Programme(s) H2020-EU.3.3. - SOCIETAL CHALLENGES - Secure, clean and efficient energy Main Programme H2020-EU.2.3.1. - Mainstreaming SME support, especially through a dedicated instrument Topic(s) SIE-01-2014 - Stimulating the innovation potential of SMEs for a low carbon energy system Call for proposal H2020-SMEInst-2014-2015 See other projects for this call Sub call H2020-SMEINST-2-2014 Funding Scheme SME-2 - SME instrument phase 2 Coordinator FLOATING POWER PLANT AS Net EU contribution € 1 036 623,00 Address Birketvej 13 4941 Bandholm Denmark See on map SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed. Yes Region Danmark Sjælland Vest- og Sydsjælland Activity type Private for-profit entities (excluding Higher or Secondary Education Establishments) Links Contact the organisation Opens in new window Website Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Other funding € 444 267,00 Participants (1) Sort alphabetically Sort by Net EU contribution Expand all Collapse all Third-party Legal entity other than a subcontractor which is affiliated or legally linked to a participant. The entity carries out work under the conditions laid down in the Grant Agreement, supplies goods or provides services for the action, but did not sign the Grant Agreement. A third party abides by the rules applicable to its related participant under the Grant Agreement with regard to eligibility of costs and control of expenditure. FLOATING POWER PLANT LTD United Kingdom Net EU contribution € 107 527,00 Address Summit house 4-5 mitchell street EH6 7BD Edinburgh See on map SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed. Yes Region Scotland Eastern Scotland Edinburgh Activity type Private for-profit entities (excluding Higher or Secondary Education Establishments) Links Contact the organisation Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Other funding € 46 083,00
