Elements Works and 40South Energy, Italy-based tidal and wave energy players, are working together to advance Marina di Pisa wave energy project off Tuscany, Italy.
When fully completed, Marina di Pisa project will comprise two 40South Energy’s H24 devices that can work both as wave and tidal units, but for this specific project the units will behave as wave energy devices.
The devices will have the capacity of 50 kW each, and will be installed at Marina di Pisa site.
Tidal Energy Today spoke to Michele Grassi, CEO of 40South Energy, who said that Elements Works and 40South Energy are launching a crowdfunding campaign to secure the necessary funds for the realization of the first phase of the project.
The fundraising campaign is expected to be launched in September, and depending on the success of the campaign, the implementation of the project could begin by the end of 2015.
In parallel to fundraising, the developers are applying for the installation license for H24 wave energy device, and associated infrastructure.
Grassi said that the final consent for the project installation could be received in 3 to 5 months, and if the funding campaign is successful, Elements Works could receive H24 device from 40South Energy by spring, which coincides with the potential consent approval for the device installation.
The cost of the first phase of Marina di Pisa project is estimated to be €200.000, with the total project costs amounting to €800.000, according to Grassi.
40South Energy and Elements Works plan to organize an additional fundraising campaign that would cover the total costs of the project.
H24 machine consists of a guiding part located on the sea floor, or on a support structure, and of a moving part above it, which moves according to waves or tides.
The machine is designed for islands or isolated communities with an average electricity consumption of 50 kW or more.
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Image: 40South Energy