windfloat: ready for commercial projects€¦ · global presence partners >30 people offices in...
TRANSCRIPT
WindFloat:
Ready for Commercial Projects
‘A3: The International Perspective’
Glasgow UK
14 November 2017
Introduction to Principle Power
Successful 5-year Full Life-Cycle Demonstration
2MW Vestas, Identical Performance to Fixed Foundation
17GWh, Produced in 12m waves; Survived 17m waves
A Proven
Technology
Project
Pipeline
Several Precommercial Projects in Progress
Commercial Developments in Europe, USA, Asia
Strong
Backing
Shareholders
Global
Presence
Partners
>30 people
Offices in USA, France, and Portugal
`Our Vision: Be the global leader in deep water wind technology
Our Mission: To make the WindFloat the most competitive, safe, reliable and environmentally
friendly floating technology and unlock GWs of global renewable energy potential
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Announced COD - 3 -
Upper design Limit for
Fixed Tech
Hywind Demo (NO)
Fukushima Forward I&II (JP)Buchan Deep (UK)
WindFloat Demo (PT)
Kabashima/Goto (JP)
WindFloat Atlantic (PT)
Aqua Ventus (US)Kincardine (UK)
French AAP Tender (FR)
Progression Oahu South I&II (US)
400 MW
320 MW
400 MW
1000 MW
Oahu Northwest (US)
Trident Winds Morro Bay (US)FuturePast
500 MW
Eolfi I&II (TW)Korea
500 MW
500 MW
French Floating Tender (FR)
2,000 MW
Fukushima III (JP)
Demonstration
Precommercial
Commercial
Deep water projects gaining momentum: >200 MW precommercial
projects and approx. 7 GW of large projects in dev worldwide
Floatgen (FR)
Offshore Wind cost reduction progress is expected to expand
attractiveness of offshore wind globally, accelerating growth…
- 4 -
…floating foundations must reduce costs swiftly to be competitive with fixed
foundations and other sources of generation.
Ready for large commercial deployment by 2020
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Completing LaunchedDone
✓ Onshore Fabrication and Commissioning
✓ Demonstrated Performance
✓ Survivability in Extremes
✓ Health, Safety & Environment
✓ O&M Operations
✓ Tow to shore for Large Correctives & Decom.
✓ Certification Agencies Approval in Principle
✓ Large Turbines (6-8+ MW)
✓ Project Arrays
✓ 25 year project life
✓ Certification Agencies Full AFC approval
✓ Full Insurance companies endorsement
✓ Project Finance
✓ Competitive LCOE
o Development of large-scale floating projects
o Secure Full Buy-In of Project Sponsors
o Compete with Fixed Foundations (depth >40m)
o Accelerate Launch of New Markets (e.g. Japan, Taiwan, U.S.A.)
Commercialization Path
Now implementing small commercial projects, with state of the art turbines and optimized designs
WF1 Generation 2/3
▪ Wind Turbines up to 8+ MW
▪ 66 kV dynamic cables
▪ 25 year business case
▪ Full class certification
▪ Non recourse finance
• Capacity:
• Production:
• Unit Cost:
x4
X4.5
x1.75
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Class approved:
Several pre-commercial projects structured to: 1) Prove Bankability
and 2) Advance LCOE 3) Develop Local Supply Chains
- 7 -
Fos/Mer
Port-La-Nouvelle
Eiffage Yard, Fos/mer
Leucate Site
WindFloat Atlantic 25 MW, Portugal, Operational 2019
• 3x 8.3 MW MHI Vestas
• 20 km out; 100 m deep
• Local Shipyard Construction
• Certification by ABS
Design Fully Approved for Construction
• Feed-In Tariff
• Equity Financing complete w/ strong international sponsors
• First non-Recourse Finance of a Floating Wind Farm
Golfe du Lion24 MW, France, Operational 2020/21
• 4x 6 MW GE
• 18 km out; 70-100 m deep
• Local Shipyard Construction
• Certified by BV
• Feed-In Tariff (through competitive process)
• Very strong consortium with major energy companies and industrials
• Major innovations to advance technology to the next level of competitiveness
Financiers and Insurers recognize the WindFloat’s role in
Reducing Cost and Risk
- 8 -
✓ Reduce Environmental Impact and Geotechnical Requirements
✓ Flexible Site Location / Water Depth independence
✓ Highly Modular Design Enables Serial Production
✓ Quayside Commissioning and WTG Installation
Reduction of Cost &
Risk
✓ Low Cost Marine Spread / Widely Available Vessels
✓ Lower Interface Risk with offshore contractor
✓ Lower Sensitivity to Weather
✓ Return to Shore for Large Corrective O&M
✓ Claims-free insurance record
Cost Risk
Once validated, floating foundations are well poised to leverage
cost reductions in the fixed bottom value chain
- 9 -http://tki-windopzee.eu/files/2015-10/151028-tki-offshore-wind-cost-reduction-final-stc.pdf
Target:
EUR 40-80
/MWh
PPI is pursuing significant innovation that will drive cost down to
40-80€/MWh target by early 2020s
Other Offshore Wind Industry Innovations (Turbine Performance, Plant Design, Electrical Systems, Supply Chain)
- 10 -
Floating Wind is on track to compete with conventional power,
other renewables, and fixed offshore wind
1based on illustrative next generation turbine parameters, current macro economic conditions, and business case assumptions
Adjusted Strike Price (EUR/MWh)
Announced Fixed Projects vs WindFloat
Demo-Scale: 25-30 MW, 8 MW TurbinesFirst Commercial: 300 MW, 9-10 MW TurbinesMature Commercial: 600 MW, >12 MW Turbines
- 11 -
Location North Sea
Water Depth 100 m
Wind Speed 10.1 m/s @ 100 m
The UK is the world leader in offshore wind:
opportunity to lead deep water wind, with right policies
The most mature offshore wind market in the world• Clear and stable policy makes UK attractive• Coherent and coordinated permit & licensing processes• Mature supply chain and skilled work force
The UK is already recognized as one of the most promising locations in Europe for Floating tech.• Deep water• High wind speeds• O&G skills/infrastructure• Supportive government• Buchan Deep – The First Floating WindFarm!
The lack of defined sites beyond ROC- enabled floating projects / Round 3 creates: 1) A gap between precommercial and commercial projects,
potentially eroding the UK’s leadership in floating wind2) A risk that the UK will not achieve 2030 climate goals - 12 -
Floating foundations allow siting of projects in best wind resource
- 13 -
Floating Resource with ConstraintsFixed Resource with ConstraintsUK Offshore Resource
Source: The Crown Estatehttps://ww2.rspb.org.uk/globalassets/downloads/documents/positions/climate-change/wind-power-publications/the-rspbs-2050-energy-vision-technical-report.pdf
provides policy makers with flexibility to meet targets
Where to from here? thoughts
Define licensing process for additional sites
Open Auction to Meet Targets
• Floating projects at GW-scale will be competitive in CfD auctions
allow market to decide which sites are most competitive
• Utilization of deep water resource offers greater flexibility to meet targets
• Project zones sized for economies of scale Think in terms of GWs
Offtake
• Focus on the best wind resource; sites suitable for fixed and floating projects
• De-conflict sites to add certainty and stability
• Consider grid connection potential
• Stepping stone CfD round to launch domestic supply chain?
o To develop infrastructure and optimize fabrication
o To serve as a bridge to full commercial build out
• Industry as a whole needs more visibility into 2030 targets and beyond to make the right investments in the sector
LaunchDomestic Supply Chain
Conclusions
- 15 -
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Floating foundations are opening new markets and already helping the industry to reach its true global potential
Recent cost reductions in Europe expand attractiveness of offshore wind, Proven floating foundations well positioned to leverage these drivers
The WindFloat is fully proven and will be ready for commercial scale deployment at competitive prices from 2020
4 The UK has a unique opportunity to lead in the commercialization of floating wind with the right policies.
Principle Power looks forward to engaging with UK stakeholders to
develop a successful industry!
