Renewable Energy Bermuda A wave energy solution for Bermuda, in partnership with Bermuda Presented at the Town Hall Meeting hosted by GOVERNMENT OF BERMUDA 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 Bermuda energy, the equivalent of twice the world’s electricity production, could be harvested from the world’s oceans on a continuous basis.” World Energy Council 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 Bermuda 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 (Energetech/Oceanlinx) 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. Point Absorber (OPT, Attenuator, Pelamis WP Finavera) Overtopping, Wave Dragon Best Wave Energy Solution for Bermuda 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 Company Joint Venture Joint Venture Renewable Energy Bermuda 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 projects. 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 Triton. 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 Impact • 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 NONE 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 spillage • 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 footprint 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 grid REH / Triton and their shareholders To facilitate the above while enhancing company’s reputation and providing acceptable financial returns to shareholders Project Overview Grid Grid Connection Connection Environmental Environmental Impact Impact Assessment Financing Assessment O&M O&M Environmental Environmental Development Equity Building Building planning planning Construction Debt / Equity CETO CETO 20 MW 20 MW supply/instal supply/instal Project Project lation lation Power Purchase Power Purchase Operations Debt / Equity Agreement Agreement Peril Insurance Warranty Warranty Carbon Credits Carbon Credits Balance of Balance of Plant Plant 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.
Pages to are hidden for
"Ocean Wave Energy - Triton"Please download to view full document