EU backs WaveRoller technical expertise
Finnish wave energy company AW-Energy has embarked a 3-year project to develop processes for the roll-out of large megawatt wave farms.
The project will work to ensure market readiness of AW-Energy’s WaveRoller solutions by preparing processes for projects with 5-10 MW capacity, ahead of the EU target of 150 MW installed capacity by 2030.
Also, one of the project’s aims is to facilitate the market uptake of wave energy by developing a scalable business and service model to support future wave farms totalling 200 GW and more.
Funded by the European Maritime and Fisheries Fund (EMFF) through the Blue Economy Window program, the project will also seek to develop a roadmap for global replication that covers lifecycle services and operational support, according to AW-Energy.
Christopher Ridgewell, CEO of AW-Energy, said “We are delighted to win this project. Our technical expertise in the development of wave energy solutions using our WaveRoller device and its technology, will drive the expansion of the wave energy market across the EU and beyond”.
The project will see AW-Energy develop processes to deliver the world’s first large-scale wave farm, with up to 24 integrated WaveRoller units.
This work will assist in securing eight WaveFarm projects that will deliver a capacity of 150MW with an estimate annual electricity production of 400 GWh. It addresses several European challenges related to energy and climate change, including reductions in GHG levels, and the increased share of the renewables energy mix with wind and solar.
Jussi Åkerberg, CTO of AW-Energy and manager of the project, added: “This project represents the first steps in unlocking the 150 MW WaveFarm opportunity that will help to displace more than 270,000 tons of CO2 by 2030. It is also anticipated to create 1,500 new jobs in the post‐project period.” It is predicted that more than a third of these positions will be within the EU”.