SINN Power ‘recollects’ wave power mementos
- Business & Finance
In a retrospective of the past year, German wave energy start-up SINN Power has looked back on wave energy milestones the company achieved in technology, project and business development in 2018.
In spring 2018, SINN Power received a €4.7 million investment boost when the Schweizer Kapital Global Impact Fund became a shareholder in the company.
With the resources made available, the partners plan to develop SINN Power’s wave energy technology to market maturity by 2022.
The next highlight for SINN Power followed shortly when the company installed its improved, 2nd generation, wave energy converter (WEC) modules in Greek island of Crete.
As part of a research project funded by the German government, a total of five modules are to be erected on the port wall of Heraklion in Crete, by 2019.
Usable electricity from the two modules, which operate by exploiting ocean waves, was produced for the first time at the end of June 2018, when the two modules were put into operation.
According to SINN Power, the power produced by its technology is regulated, stabilized and thus grid-capable electricity.
In summer 2018, SINN Power announced the launch of its first customer project in Africa with paid feasibility study in West African Guinea.
The aim of the feasibility study is a site-specific recommendation for an ideal, customized renewable hybrid system that meets the needs of the customer Guinea Gold.
For this purpose, SINN Power installed autonomous measuring systems for renewable energies in Conakry, opening the second phase of the project. The measured data is incorporated as the main constituent of the site-specific recommendation.
During the late part of the year, the wave power modules in Greece experienced strong autumn storms with wave heights of more than 7 meters, according to the company.
“Thanks to the new safety concept, which allows the entire modules to be submerged, they were able to be put back into operation after the storm had ended,” SINN Power said.
When it comes to prospects for 2019, SINN Energy plans the installation of three additional WEC modules in Crete, and to complete the feasibility study in Guinea.
Also, the German developer is expecting to receive CE approval for SINN Power Train, which would mean the technology conforms to the standards for products sold within the European Economic Area (EEA), while it continues the development of its floating wave power plant technology.