Finnish wave energy technology developer AW-Energy Oy (AWE) is to develop processes to deliver the world’s first large-scale WaveFarm, with up to 24 integrated WaveRoller units, in a three-year project funded by the European Maritime and Fisheries Fund (EMFF) through the Blue Economy Window program.
The project aims to ensure market readiness of WaveRoller solutions by preparing processes for projects with 5-10MW capacity, ahead of the EU target of 150MW installed capacity by 2030. It is also expected to facilitate the market uptake of wave energy by developing a scalable business and service model to support future WaveFarms totalling 200GW+, and develop a roadmap for global replication that covers lifecycle services and operational support.
This work will assist in securing eight WaveFarm projects that will deliver a capacity of 150MW with an estimate annual electricity production of 400GWh. 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.
“This project represents the first steps in unlocking the 150MW WaveFarm opportunity that will help to displace more than 270,000 tons of CO2 by 2030,” commented Jussi Åkerberg, CTO of AWE and manager of the project. “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.
AW-Energy will deliver the WaveRoller technology to the market in WaveFarms and already the first steps are underway for commercial deliveries starting with projects in Indonesia, Sri Lanka and Ireland.
Innovation Manager Finland Oy supported AW-Energy on its application for the project. Innovation Manager, Jerri Laine said: “The EU funding matches perfectly AW-Energy’s current development plans. Working with their teams was very smooth and highly effective, which were the pre-requirements for a successful EU application.”