Commercial in Confidence 1 CF16539GG 1
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Commercial in Confidence 1
CF16539GG 1
Commercial in Confidence
Commercial in Confidence
2
Technology provider.
Patented concept.
45 staff covering all elements.
Proven, scaleable & familiar business model
Incorporated 1998
~£45m invested
~£19m sales
~£10m grants
Electricity Markets
Component Suppliers, Sub-
contractors and Fabricators
Power Generation Projects
Project
Development
Pelamis Wave Power
Pelamis design, procurement,
assembly, installation, operation
& maintenance
PWP – Business Model
Only company in sector to have secured
supply contracts.
6 full-scale machines built & grid connected.
Commercial in Confidence
Commercial in Confidence
PELAMIS – Fundamental Principles
Survivability principles Absorption principles
Engineering embodiment Construction and O&M strategy
PELAMIS IS A UNIQUE COMBINATION OF THESE ESSENTIAL PRINCIPLES
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Cost of Energy forecast to match Offshore Wind
B&V’s recent appraisal of Pelamis’ LCoE
trajectory agrees with PWP’s estimates
to within c.10% , this is clear indication
of the high level of confidence in PWP
LCoE modelling
“
” – B&V December
2011
Each of the customers completed LCoE DD prior to proceeding.
All analysis based on validated cost & yield inputs from real
machines – unique in sector.
Detailed LCoE validation study completed by Black & Veatch.
With the right partner we believe we can further accelerate this plan.
0
200
400
600
800
1,000
1,200
1,400
2008 2011 2014 2017 2020
Levelised cost of energy
2 MW
10 MW
50 MW 100 MW
2 MW
Historic LCoE Forecast LCoE
Profitable at 5 ROC’s
Offshore wind R3 2009-17
(approx.)
Source: Mott MacDonald, 2010
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Scottish Context - Projects in Development
Client Pelamis Projects:
Orkney North [50MW], Orkney. E.ON
Marwick [49.5MW], Orkney. ScottishPower Renewables
Joint Ventures:
Aegir [10MW], Shetland. Vattenfall.
Pelamis Wave Power Projects:
Farr Point [50MW], Sutherland.
Bernera [10MW], Western Isles.
Project Pipeline – 200MW with Agreement for Lease from The Crown Estate.
Context to de-risk & commercialise Pelamis product for global market.
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Current Strategic Investment Process
Customer demand has prompted the search for an industrial partner.
Three of the world’s largest renewables generators are working with us and have been for several years.
Pelamis has generated £19m revenues to date.
The key requirement for a mass roll out is a strategic partner with complementary skills, capabilities and long term vision.
Customers now driving the need for a solid supplier to deliver product.
3+ years to get product rolling – timing is right now .
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www.pelamiswave.com
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