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OCEAN_2G Report Summary

Project ID: 730628

Periodic Reporting for period 1 - OCEAN_2G (Second Generation technologies in ocean Energy)

Reporting period: 2017-02-01 to 2018-01-31

Summary of the context and overall objectives of the project

The interest for renewable energies has exponentially risen in the last few years. Several factors have contributed to this growth: the increase on energy demand, the political instability of many countries that produce fossil fuels, the high fluctuation of oil prices, the countries’ energy dependence and the concern generated by the environmental impact produced by the traditional sources of energy. This fact has boosted the development of numerous renewable energies and has promoted the establishment of ambitious objectives by the main world organisations, like the one set by the European Commission of covering 20% of the energy demand with renewable energies by 2020. By using current marine energy harnessing technology, it would be possible to provide up to 13% of the global energy, by extracting 2.200 TWh/year.

OCEAN_2G (validation and pre-certification of a new 2MW marine current generator) is an innovation project that aims to develop the Product Categories Rules for pre-certification and industrialization stages for an innovative tidal energy harnessing system solution ready to enter into the markets, generating specialized jobs, promoting smart, sustainable and inclusive economic growth in European and global markets. At the same time, boosting the performance of the industrial partners in the Consortium and placing Magallanes Renovables’ technology as a worldwide referent in the production of tidal energy generation floating platforms.

The project is now on the set-up final stages of the full size prototype to be tested at Vigo, Spain and at EMEC‘s facilities, Scotland (European Marine Energy Centre) this end-summer 2017. The outcome of this Fast track to Innovation project is to provide a 2MW pre-marketable floating platform technically validated towards commercialization stages.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

Ocean_2G’s main objectives are as follows:
• Validate the full-scale (1:1 size) prototype in a controlled marine environment through a structured test programme;
• Demonstrate the operational performance of a grid connected full-scale prototype in a real open sea environment;
• Improve the prototype for cost competitive energy generation with a target of 2MW;
• Pre-certification of the full-scale prototype with an independent electrical power performance assessment;
• Develop a business strategy and marketing approach according to the projects outputs and identify potential customers.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

The European Commission has taken a leading position worldwide in promoting a transition towards a low carbon energy source economy by 2050, including the goal of reducing greenhouse gas emissions by 80% in comparison with 1990 levels. In addition, the G7 has announced an even more ambitious goal: to completely eliminate fossil fuel generation by the year 2100. An accelerated adoption of technologies for renewable energy generation is critical to achieving these goals.

Magallanes Renovables’s technology biggest strengths are related to its lower operational and maintenance costs when compared to solutions offered currently in the market. This is due to one of its unique features: an accessible machine room. This means that repairs can be done offshore with no need to take the platform to a shipyard for maintenance. Another advantage of this floating technology is that there is no need to install fixed structures on the seafloor, meaning lower environmental impact. Therefore, Magallanes Renovables is one of the most cost efficient and sustainable projects nowadays in the ocean energy industry.

The size of the potential market available for the tidal industry is very large and is expected to take decades to meet the growing demand for renewable energy of this type. In terms of competition within the tidal industry, there are over 80 active tidal developers known to EMEC around the globe. Developers vary from small and medium-sized enterprises (SMEs) to original equipment manufacturers (OEMs), utilities and industrial engineering firms with a range of investors involved in this field of operation. However, no device has reached the stage of marketing yet.

The number of project under development proves that this technology is viable and competitive and therefore, it is a very attractive sector. Growth expectations are high for this sector for the coming years, especially from 2018 on; this is why the next few years are so important and key to the development of an efficient and reliable technology for the exploitation of the tides.

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