The creation of a new industry doesn’t happen very often, but this is truly what Waves4Power is all about. We are building a new European energy industry that is entirely fossil free and renewable. Waves4Power is a leading player in the green marine energy industry, which is expected to be the future of energy production for Europe as well as the rest of the world. As of June 2, 2017 we are delivering electrical power to the Norwegian power grid.
The Waves4Power wave energy system at Runde in Norway was initially launched in February 2016 with the placement of the WaveEL buoy on site. In May 2017, the complete system was deployed including the custom designed marine cables.
The Waves4Power system started delivering electrical power to the Norwegian power grid on June 2, 2017 when the sea cable from the offshore system was connected to the land-based power grid.
The ocean’s waves harbour tremendous amounts of raw energy and represent the single largest untapped source of renewable energy today. Converted into electricity – by means of a Wave Energy Converter (WEC) – 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, Borealis, SSAB 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
Video from the Grid Connection June 2, 2017
Q & A
Q: How many kW will each buoy produce?
A: After the first full quarter of electrical production at our Runde demonstration site, we intend to present the real figures of electricity [kWh] produced. Until that time, it’s more estimates and simulations. The kW is only a measure of the size of the generator – installed capacity – and does 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 relevant way to compare WaveEL with other wave energy systems or to compare wave energy in general to other forms of renewable energy, such as wind and solar. When the WaveEL system at Runde has been in active use for a full quarter we will have objective information about power output and cost.
Q: What is the LCOE?
A: The LCOE (Levelized Cost of Energy) is the industry’s model for calculation of the overall cost of energy over the lifetime of the device. The calculation includes planning, permitting, building, connection to power grid, lease, depreciation, service and maintenance, management, costs of scrapping, etc. – everything calculated at present value. Finally, the total cost is divided by the estimated energy (kWh) produced over the life of the device which gives the LCOE.
Q: Why do you think W4P will succeed where no one else has?
A: W4P has experience from testing a handful of prototypes in the ocean, which we have learned a lot from. We have a skilled team and a very strong network of partners from different disciplines which gives us unique access to invaluable knowledge and the technical resources to solve any problem that may occur.
Q: Why does W4P believe the buoy will survive?
A: Small round objects like weather buoys and navigational buoys are predestined by their 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 instead of fighting them – 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 does W4P anticipate taking 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. These are the keys to drive down the LCOE.