Ocean Wave Energy - Triton by slappypappy121

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									Renewable Energy Bermuda
A wave energy solution for Bermuda, in partnership with Bermuda

 Presented at the Town Hall Meeting hosted by

         Ministry of Energy, Telecommunications and E-Commerce

                                                      September, 2008
Why Choose Wave Energy?
Waves – the facts
  Waves contain more energy and are more consistent than solar and wind energy.
  Wave patterns are more predictable than other forms of renewable energy.

  Wave energy projects have a very low environmental impact.

  Wave energy projects do not compete for limited land resources.
  Wave energy projects benefit from being close to shore.

                                                                       This image shows the
                                                                        global distribution of
                                                                      wave energy. “2TW of
                                                                      energy, the equivalent
                                                                         of twice the world’s
                                                                       electricity production,
                                                                         could be harvested
                                                                    from the world’s oceans
                                                                     on a continuous basis.”

                                                                               World Energy
Why Bermuda is Ideally Suited to
Wave Energy Power

Bermuda – the facts

Bermuda is 98% dependent on petroleum imports,
has high electricity rates and increasing demand.
Bermuda has an excellent wave regime and very
little tidal activity.
Bermuda has a fragile ecosystem that underpins
the economy.
Bermuda must manage intense competition for
limited land resources.
Bermuda has easy access to deep water in close
proximity to the shore.

Bermuda lends itself to wave energy power generation due to the lack of
large tides and the regular 2m swells, as depicted in the SATOBSYS plot,
above right.
Advantages of Wave Energy to

Wave energy utilisation in Bermuda will;
Reduce our dependence on oil imports and improve our security
Have a stabilizing affect on the cost of electricity

Utilise a reliable, indigenous energy supply

Have zero harmful emissions and will reduce our carbon footprint
Showcase Bermuda as a centre of excellence in wave energy power technology

Waves represent the optimum energy source for significant sustainable
local power generation. Bermuda is an ideal location to demonstrate the
commercial technological viability and profitability of cutting-edge,
wave-energy generating technology.
Wave Energy Technology Options
Wave energy is an emerging technology and a                     Oscillating Water Column
suite of diverse systems have been designed and
are being tested. Most of these technologies aim to
generate electricity in-water, and then transmit this
ashore. None of these is felt to be appropriate
for Bermuda.

   (OPT,                        Attenuator, Pelamis WP
                                                   Overtopping, Wave Dragon
 Best Wave Energy Solution for
In searching for the most appropriate wave energy solution for Bermuda, local
company Triton Renewable Energy identified the following criteria;
Given the ecological and aesthetic value of Bermuda’s environment to our quality of life and
economy, the technology should be located offshore rather than in the nearshore
environment to minimise the environmental and visual impact.
Where possible, the technology should employ ‘tried and tested’ and robust component parts
with a minimum of submerged electrical components and with an extensive and reliable
support network. Components should be simple and inexpensive, to facilitate maintenance.
There should be a viable business model and any partners should have a proven track
record in the renewable energy sector.

The “roll out” schedule for the technology should be within a realistic and deliverable
timeframe, and should be modular to allow for expansion.

After several years of background research and fieldwork, Triton determined
that the most suitable wave energy technology for Bermuda was the CETO
technology being developed by Renewable Energy Holdings (REH) and EdF
Energies Nouvelles S.A.
     REH’s CETO Wave Technology
The basic components of REH’s CETO technology are shown below. CETO operates as a
pump. Submerged buoys harness the ocean energy to drive CETO units, which pump seawater
ashore at high pressure. The pressurized water is then used to drive onshore turbines to create
base load electricity. The pressurized seawater can also be desalinated via reverse osmosis to
create zero emission freshwater.

  Fully submerged reciprocating pump

  Positive buoyancy actuator

  Moves with elliptical motion of waves

  Deployed in array formation

  Pumps high pressure water to shore

  Reverse osmosis desalination

  Pelton turbine generation

  Once through method with sub-sea
  filtration; or

  Closed loop method without filtration
 A CETO Wave Farm

REH team with CETO Prototype II and a visualization of a potential CETO wave
farm. The CETO III units are approximately 65 feet in overall height.
Renewable Energy Bermuda Partners

                        EdF Energies
                        Nouvelles S.A

         CETO Development
        Joint Venture

                                   Joint Venture

                            Renewable Energy
Renewable Energy Bermuda Expertise
 REH and EdF Energies Nouvelles and their staff have been involved in many renewable energy projects successfully
 developed during the past 10 years. Triton Renewable Energy, a Bermuda company, brings a wealth of local expertise.

 REH is a technology agnostic, “pure play” renewable energy asset company, investing in development and operating assets in
 markets enjoying good regulatory support.
 • Owns over 40MW of wind power in Germany,
 • Is developing 100MW of wind power in greater Europe,
 • Owns a land-fill project in the UK,
 • Is commercializing its CETO technology for deployment in 2009 /10,
 • Team with extensive experience as advisor, principal or underwriter in several major wind, solar, geothermal and biofuel

 EdF Energies Nouvelles
 • Owns over 1200MW of renewable energy assets across wind, solar, hydro and bio-mass,
 • Recently commissioned Europe’s largest single site wind project in Portugal at 240MW,
 • Recently commissioned both the largest solar and wind power projects in France at 7MW and 87MW respectively,
 • Top ten developer in the US and Europe.

 Triton Renewable Energy aims to promote the introduction of profitable and clean renewable ocean energy to Bermuda
 through the integration of emerging technology project development expertise and capital, within a framework that promotes
 environmental stewardship.
 • Widespread marine and terrestrial biodiversity knowledge and publishing track record,
 • Detailed understanding of Bermuda’s environmental regulatory and legislative framework,
 • Broad local community recognition for environmental leadership,
 • Demonstrated success in stakeholder engagement and community consensus building for policy development,
 • Extensive expertise in marine construction and environmental consultancy,
 • A strong reputation for promoting the environment and human health,
 • A commitment to promote Bermuda’s cultural heritage,
 • A solid working knowledge of the local and international business sectors.
REH Management Team

Sir John Baker CBE – Chairman
In 1979 John became Managing Director of the UK Central Electricity Generating Board. He led the UK electricity privatisation
and restructuring programme. He was Chief Executive of National Power PLC from 1990 and Chairman from 1995 to 1997.
From 1995-1998 he was also Chairman of the World Energy Council.

Mr Michael Proffitt FCA – CEO
A qualified Chartered Accountant, Mike joined the Wyndham Hotel Company as CFO and in 1987 became co-owner and
President of The Savoy Hotel Company. Mike’s experience managing corporate growth saw him invited onto the board of the
Manx Electricity Authority in 1997 and appointed CEO in July 2000. Formerly a Chairman of Barclays Private Clients
International Limited, a wholly owned subsidiary of the Barclays Group, Mike is now a Non Executive Director of BPC Limited.

Alan Burns – Non Executive Director
Alan is the inventor of the CETO technology. With a number of international invention awards, he has successfully
commercialised a number of inventions including the Pursuit Shock Drive (now owned by Pursuit Dynamics Plc) and Crocodile
Tyres. Alan has also been actively involved in the natural resources industry worldwide for over thirty years. He is Chairman of
Carnegie Corporation, a Director of Westralian Gas and Power and Chairman of AIM-listed Carnegie Minerals. He recently
retired as Chairman of Hardman Resources Limited and was formerly a Director of Global Petroleum..

Shane Bush – Director, Development & Corporate Finance (non board)
Mining Engineering graduate, Shane spent five years as a field engineer with Schlumberger Oilfield Services. He received his
MBA in 1998 and began a successful banking career, financing his first renewable energy projects 1999. In 2002, Shane
established the first specialist renewable energy team in the market with ANZ, focusing on Europe and North America, and
building a 40% share of the project finance market for wind in the US in 2003/’04. Shane and his team joined Standard
Chartered Bank in 2005 where he created a global renewable energy corporate finance team specializing wind, solar, hydro,
bio-mass, bio-fuels and carbon. His award winning team won “deal of the year” in 2007 for Asia – Pacific and Africa.
Triton Management Team
Thomas Sleeter Ph.D – Chairman
With a Ph.D. in Environmental Engineering, Tom served as Director of the Department of Environmental Protection in Bermuda
from 2002-2007, responsible for the enforcement of 30 legislative Acts and statutory instruments. Prior to that he served in
various management and advisory roles within the Ministry of the Environment, overseeing air and water quality monitoring
programs. He was Curator of the Bermuda Aquarium, Museum and Zoo for 3 years from 1988-1991.
Jeff Manson - Founding Director
Jeff has been interested in promoting green energy since university, where he earned a degree in Environmental Biology. He
has considerable experience with project management, both marine and terrestrial. He has worked as an environmental
consultant for the Bermuda Government, and specializes in risk analysis.
Tim Hasselbring – Managing Director
Tim has a BSc in Biology and has had a varied career in different aspects of environmental and marine industries. He has an
extensive knowledge of Bermuda’s waters as a commercial boat captain and a commercial diver. He was the facilities manager
for Dolphin Quest Bermuda, manager of a marine construction company, and an environmental consultant before co-founding
Philippe Rouja Ph.D – Director
With a Ph. D. in Anthropology Philippe is a cultural and medical anthropologist specializing in maritime communities, currently
focusing his research on Polynesia, Australia, Bermuda and the Arctic. He is an affiliated researcher with the WHO PAHO
center at the University of Laval Hospital Center in Quebec. Philippe is the Custodian of Historic Wrecks for the Department of
Conservation Services where he also oversees public health studies related to the use of marine resources in Bermuda.
Kim Carter – Director
Kim is a Certified Hedge Fund Specialist (CHFS), and a Director of Trilby Asset Management, Ltd., Macquarie MCG
International Ltd and Rock Consulting & Marketing Ltd. He is Chair and Founder of Kathmandu Kids Club, and was Chairman
and Co-Founder, Bermuda Open 2004, PSA Masters 2005, PSA Masters 2006, and World Open 2007 (Squash).
Anne Glasspool Ph.D - Non-Executive Director
With a Ph.D in Marine Biology, Annie led the Bermuda Biodiversity Project from its inception until 2008, researching and
promoting conservation in Bermuda through stakeholder consensus building. Now an environmental consultant, she has served
on various management, research, advisory and education committees for local NGO’s and the Bermuda Government and is a
Director of Waterstart Ltd.
 Renewable Energy Bermuda - the approach
Renewable Energy Bermuda seeks to install a commercial wave-energy generating platform
using CETO technology to produce at least 20 MW of Bermuda’s national energy demand (peak
load of 120 MW). A phased approach will be utilized in order to confirm that actual performance
will achieve predicted values. Stakeholders will be engaged throughout the process from the
initial feasibility assessment to completion.

    Phase I                                               Phase II
    Installation of 2 MW Demonstration                    Installation of remaining 18 MW
    Pilot Plant                                           Demonstration Plant
                                                          (possibly meeting all Bermuda’s
    1. Feasibility Assessment                             additional 80 - 90GWh of medium term
                                                          supply needs).
    2. Secure Venture Capital
    3. Environmental Scoping/ Impact Assessment                                 CETO
    4. Government Approvals
    5. Installation of Test Pipeline                      Capacity factor (%)   60%+
    6. Preparation of on-shore Facilities
                                                          Power output          100,000+
    7. Acquisition/installation of units                  (MWh)
    8. Data Collection, Analysis, Reporting
                                                          No of CETO units      112
    9. Completion 2010
                                                          Area of seabed        2 football pitches
       August 2008                         Confidential                                         13
Managed Commercialisation of CETO

•   Three, fully instrumented, CETO II units are currently
    installed off Perth, Australia

•   CETO III will be a scaled up version of CETO II,

      •   including optimization resulting from CETO II
          instrumentation analysis, and

      •   addressing cfd and load differentials
          associated with larger unit

•   Expected CETO III deployment in Northern
    hemisphere in 2009

      •   CETO III nameplate capacity of 180kW

      •   CETO III manufacturer selected
CETO - Minimal Environmental

•   REH’s CETO technology generates its electricity                                   CETO
    onshore from offshore wave energy:
      •   No electro-magnetic field created offshore which     Harmful materials
                                                               used in construction
          may impact marine mammals
•   The project is planned to be constructed primarily of
    concrete, steel, plastic and rubber:
                                                               Electromagnetic        NONE
      •   No construction materials are contemplated which     frequency created
          could pollute the marine environment over time
                                                               Potential for          NONE
•   No lubricants are expected to be used offshore:            polluting leakage or
      •   Absence of lubricants eliminates threat of leakage
          and pollution events
                                                               Visual impact          NONE
•   CETO is a completely sub-sea installation:
      •   No visual impact from onshore which could            Audio impact           NONE
          potentially harm tourism
Renewable Energy Bermuda - Stakeholders

A key part of the development of this project is the engagement of local stakeholders
to ensure that there is minimal environmental, social and cultural impact, with
maximum benefit to the wider community.

Stakeholder                               Key consideration
People of Bermuda / Government of         Protection of key industries including tourism
Bermuda                                   and fishing, the environment, maritime
                                          heritage and managing Bermuda’s carbon
Marine and Ports, commercial and          Maritime safety, access restrictions, visibility
military shipping                         and warnings
Resident electricity consumers            Affordable, reliable electricity supply at
                                          predictable prices
Bermuda Electric Light Company            Reliable, stable supply compatible with the
REH / Triton and their shareholders       To facilitate the above while enhancing
                                          company’s reputation and providing
                                          acceptable financial returns to shareholders
Project Overview


                              Environmental    Development Equity
                                               Construction   Debt / Equity
 CETO             20 MW
                  20 MW
 supply/instal    Project
 lation                       Power Purchase
                              Power Purchase
                                               Operations     Debt / Equity
                                               Peril          Insurance
                              Carbon Credits
                              Carbon Credits

                 Balance of
                 Balance of
Renewable Energy Bermuda

  The team at Renewable Energy Bermuda is excited about the opportunity to
  provide the people of Bermuda with clean, renewable, reliable power. We
  would be proud to showcase this new technology on an island that has
  shown a willingness and an ability to change, to advance itself, while
  protecting the unique natural environment and cultural heritage that sets it
  apart. We look forward to working together with the community, the
  Government, and all other stakeholders to ensure this project becomes
  something we can all be proud of.

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