Martin mc adam presentation

MAKING MARINE RENEWABLE ENERGY MAINSTREAMMARTIN McADAM, CEO, AQUAMARINE POWER

IN BRIEFWHY MARINE ENERGY?

• Vast global resource - wave power alone could produce up to 80,000TWh/year (five times global electricity consumption)

• Wave - less intermittent, out of phase and much more predictable than wind

• Tidal – completely predictable• As the renewable energy mix diversifies, issues

of intermittency and stability are reduced

WHERE ARE THE OPPORTUNITIES FOR TIDAL ENERGY IN IRELAND?

WHERE ARE THE OPPORTUNITIES FOR WAVE ENERGY IN IRELAND?

WHERE ARE THE OPPORTUNITIES FOR WAVE ENERGY IN IRELAND?

ATLANTIC SEA

IRISH SEA

KEY REQUIREMENTS OF WAVE ENERGY TECHNOLOGY

Wave energy technology must be...

•Easy to build•Easy to install•Easy to operate•Easy to maintain•Easy to diagnose•Built to survive•Able to produce power in all weather conditions

WAVE ENERGY TECHNOLOGIES

OVERTOPPING – Low energy machine

OSCILLATING WATER COLUMN – Huge structure

SNAKE / ATTENUATOR – Huge structure; complexity

HEAVING BUOY / POINT ABSORBER – Energy extraction

DESIGNED SIMPLICITY – OSCILLATING WAVE SURGE CONVERTER

KEY ADVANTAGES OF OYSTER!

Oyster is...

Easy to buildEasy to installEasy to operateEasy to maintainEasy to diagnoseBuilt to surviveAble to produce power in all weather conditions

EMEC: OYSTER 1

Oyster 1 WEC

Onshore hydraulic power conversion

EMEC grid substation

500m pipelines

• Accessible – generation equipment is onshore – accessible 24/7• Reliable – conventional hydro-electric power station – proven, reliable• Survivability – no “survival mode”, naturally ducks under extreme waves and

keeps generating• High capture factor – uniform wave direction, amplified surge forces• Economies of scale – one generator, multiple flaps & low cost fabrication• Low weight to power ratio - compared to alternatives, including offshore wind

OYSTERKEY BENEFITS

MARINE ENERGY IN IRELAND

Ireland has a huge wave resource:

•Potential to meet 75% of Ireland’s current energy demand (7.8GW installed)

•Target of 75MW by 2012 and 500MW by 2020 = around 10% of Ireland’s renewable portfolio

WAVE ENERGY – THE OPPORTUNITY FOR IRELAND

LOCATION OF GLOBAL OYSTER RESOURCE (%)

THE SCALE OF THE OPPORTUNITY

MARINE ENERGYTHE BENEFITS FOR IRELAND

• Clean energy – significant carbon savings• Security of supply (91% of Ireland’s energy supply was imported in 2006)• Creation of a new industry and highly skilled employment in Ireland• Whilst the €220 per MWh costs the consumer, it is likely to reduce the market

price sufficiently to more than offset this cost, as seen with wind• Potential to create export market for Ireland – power, technology, skills, IP

NOT JUST ABOUT THE COST… ITS ABOUT THE BENEFIT

GERMANYREAPING THE BENEFITS

• Creating saving of €6.1bn• Increase in domestic turnover from installation/operation of renewables systems –

increase from €18.1bn in 2005 to around €22.9bn in 2006• Increase in employment in renewable sector – rose from 160,000 in 2004 to over

230,000 in 2006• Creation of export market – over 70% of wind production technology exported• Reduced carbon emissions - CO2 emissions reduced by 100m tonnes in 2006

MARINE ENERGYPOSITIVE STEPS IN IRELAND

• Significant government support for marine energy in Ireland:

• Commitment to REFIT (€220 per MWh feed in tariff)• Development of Belmullet test centre• Establishment of Ocean Energy Development Unit (OEDU)• Establishment of SEI Prototype Development Fund• Smart Bay Project (Galway)

WHAT’S NEXT?THE WAY FORWARD

• Wave power must have at least 500MW of grid capacity allocated to it outside of the gate process

• Urgent streamlining of licensing and leasing the seabed - clear, consistent and proactive policies and processes

• Developer support for MRIA (Marine Renewable Industry Association) and OEDU (Ocean Energy Development Unit)

• Continued commitment to REFIT scheme

MARTIN MCADAMCHIEF EXECUTIVE OFFICER

AQUAMARINE POWER10 ST ANDREW SQUAREEDINBURGHEH2 2AFUNITED KINGDOM Tel: +44 131 718 6611Fax: +44 131 718 6100Mobile: +44 7590 350100Email: [email protected]: www.aquamarinepower.com