Sea Technology

APR 2018

The industry's recognized authority for design, engineering and application of equipment and services in the global ocean community

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18 ST | April 2018 www.sea-technology.com Target Group Bluerise has identified tropical islands and coastal regions as its early market. Due to their size, most of these communities de- pend solely on the import of diesel or heavy fuel oil for electricity production. These are among the most expensive continuous energy generation methods and, after coal, produce the largest amount of CO 2 per kilowatt-hour. Being dependent on oil-based products also subjects these markets to intense volatility in the cost of energy. Ocean thermal energy systems require minimal land use and provide a source of constant energy and cooling; the temperature in the tropical ocean varies only slightly. This capability to provide constant ener- gy allows for ease of integration into the current electricity infrastructure, comple- menting existing intermittent renewable energy options such as wind or solar power. Energy-mix modeling demonstrates that even with a significant uptake of wind or solar power, the desired targets for greenhouse gas reductions cannot be met due to their intermittency and availability. New solutions that can de- liver reliable power must be added to the energy mix. Bill Gates, who stated that we need an "energy miracle" to fill this gap, created the Breakthrough Energy Coalition of private investors focusing on clean, affordable, reliable energy avail- able 24 hours every day. The ocean, be- ing our largest natural solar collector and battery in one, can supply this "energy miracle." OTEC Market Size The market size for OTEC includes 100 countries and territories when con- sidering direct access to the ocean ther- mal energy resource. In these countries, ocean thermal energy can be an import- ant part of the energy mix. Without taking into account any re- placement of existing capacity, or in- crease in electricity demand, an average of 37 GW of additional capacity per year would need to be built in the tropics during the next 25 years. This represents investments in excess of $100 billion per year. A large concentration of the world's population lives on or near the coasts, so providing the needed additional capacity with affordable, renewable power plants is a major mar- ket opportunity. Ocean thermal energy is key for energy independence in tropical coastal areas. The numbers are even bigger when considering that the International Energy Agency forecasts a substantial This development would be an economic driver for small tropical islands, creating jobs, increasing exports and leading to more efficient energy and water genera- tion and consumption. The synergetic use of cold, deep seawater will bring our OTEC technology closer to commercial realization. Eventually, we will conduct commercial-scale OTEC projects with capacities in the order of 10 to 30 MW. Bluerise's OTEC demonstration plant.

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