October 12 (Renewables Now) - Minesto AB today said new projections show that its marine energy technology could reach a levelized cost of energy (LCOE) of EUR 100 (USD 118.5) per MWh for 100 MW cumulative installed capacity in tidal streams.
The Swedish developer of the Deep Green kite turbine technology previously expected a 50% higher cost level. It now explains that if the device is installed in continuous ocean currents, where the capacity factor is much higher than in tidal streams, the LCOE can fall below EUR 50/MWh for 100 MW of cumulative capacity.
Martin Edlund, CEO of the Swedish company, explains that the new estimates reflect improvements in the expected performance of each Deep Green device, due to a new verified turbine blade design developed in-house, quarter-scale test results and new simulations data. The operation and maintenance (O&M) concept has also “improved considerably”.
Minesto has completed the updated LCOE analysis with the help of ITPEnergised. They have been working together since 2014, focused on the Minesto unit installed in the tidal streams of Strangford Lough, Northern Ireland.
“Minesto's diligence when using the most accurate data available, and creating a model based on standard practice, has led to the creation of an extremely thorough Cost of Energy forecast model which probably doesn't have an equal in the industry,” said Ned Minns, Offshore Group Manager at ITPEnergised.
Minesto is continuing prototype testing in Northern Ireland and it is also preparing to install next year its first commercial-scale 0.5-MW Deep Green device in Holyhead Deep, Wales. There are plans to add more turbines for a 10-MW array. In February 2017, Minesto asked for UK consenting authorities’ scoping opinion on the potential development of a 80-MW project at Holyhead Deep.
(EUR 1 = USD 1.18)