Creating a new industry does not happen very often. But this is really what Waves4Power is all about. We are building a new European energy industry. Waves4Power is an important part of the future in green marine energy. Marine energy is expected to be the future in energy production for Europe as well as the rest of the world. Now it’s time to launch our first full scale demonstration energy system at Runde on the Norwegian west coast. The system will produce electricity and is grid connected.
The ocean’s waves harbor tremendous amounts of raw energy and represent the single largest untapped source of renewable energy today. Converted into electricity, wave energy could potentially satisfy up to one tenth of current global power demands.
- Waves4Power is developing, building and selling Wave Energy Systems
- We are using the free energy in ocean waves to generate electric power
- We are different in that we do not invent and use unproven new components but depend on well tested components from reputable suppliers like Siemens, Parker, Jotun and nkt cables, to name a few
Waves4Power’s core values:
Passion – we believe in what we are doing and we believe we are doing the right thing.
Well Being – everybody involved should benefit from our operation, especially the global environment.
Down-to-Earth – Concept focusing on functionality, simplicity and total economy
Q & A
Q: How many kW will each buoy produce?
A: After the first full quarter of electrical production at our Runde demonstration, we intend to present the real figures of electricity [kWh] produced. Until that time it is more estimates and simulations. The kW is only a measure of the size of the generator – installed capacity – and do not say much about the actual production. We prefer to talk about energy produced [kWh] which is what we get paid for.
Q: What does it cost to build a wave power system?
A: At W4P we prefer to talk about the cost per kWh produced, since this is the only way to really compare the costs of different systems. When the WaveEL project at Runde is officially launched, we will have the results from a full quarter year and at that time will report our cost calculations.
Q: What is W4P's next step?
A: W4P intends to show what we call the “Proof of Concept” meaning a smaller park with about 10 buoys and connection hubs, providing energy over an extended period. The future location of this smaller farm is being negotiated as we speak.
Q: What is the LCOE?
A: The LCOE is the energy companies’ model for calculation of the overall cost of energy over the lifetime of the device. The calculation includes planning, connection to networks, lease, depreciation, service and maintenance, management, scrap costs, etc., everything calculated at present value. Finally the total cost is divided by the estimated production which gives the Levelized Cost of Energy.
Q: Why do you think W4P will succeed where no one else has?
A: W4P have had a handful of prototypes tested in the ocean which we have learned a lot from. We have a skilled team and a very strong network of partners from all the different disciplines giving us unique access to invaluable knowledge, with the resources to solve any problem that may occur.
Q: Why do W4P believe the buoy will survive?
A: Small round objects like weather buoys and navigational buoys are predestined by its shape to survive in the ocean. There are US Coast Guard navigation buoys that are over 100 years old. The WaveEL Buoy is the same size and shape as these buoys – they follow the waves and are therefore exposed to relatively small forces. WaveEL has an elastic mooring system designed to prevent overload in waves as big as 24 meters.
Q: What development steps do W4P anticipate to take to reduce LCOE?
A: We see development steps like; optimization of energy production from the buoy, simplified moorings, efficient marine operation and simplification of the actual buoy design and its systems for ease of fabrication and minimal maintenance, as keys to drive down the LCOE.