Clean Energy Week 2014 Louise Vickery General Manager Renewable Futures ARENA 23 July 2014 ARENA investment in Ocean Energy to date ARENA has invested in a variety of projects 213million ID: 815880
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Slide1
ARENA & Ocean EnergyClean Energy Week 2014
Louise Vickery
General Manager, Renewable Futures
ARENA
23 July 2014
Slide2ARENA investment in
Ocean Energy to date
ARENA has invested
in a variety of projects ($21.3million)
RESEARCH AND DEVELOPMENT
Resource characterisationEnvironmental impact studiesDEMONSTRATION PROJECTSVarying technology typesGrid connection
Research and Development
Deployment (Small Scale)
Deployment (Large Scale)
CSIRO Wave Atlas
Resource characterisation
OthersArray modelling and environmental impact studies
Biowave (oscillating wave surge converter) 1 unit, 250kW, grid connectedCarnegie CETO 5 (point absorber)3 units, 2MW, DoD gridOceanlinx (oscillating water column)1 unit, 1MW, grid connected
Carnegie
CETO
6
(
point absorber
)
3 units
,
3MW,
DoD
grid
Victorian Wave Partners
(
point absorber
)
Multiple units, up to 19MW, grid connected
Slide3Why do we invest in ocean energy ?
Potential of
ocean
Energy
Australia has great
ocean energy resourcePotential forecasting longer range than wind or solar24/7 potential Diversify Australia’s clean energy futureocean
energy is a nascent industry wide variety of device types, few demonstrated at scaleAustralian companies/ingenuity combined with ARENA
projects will add to the pool of global knowledgeAustralia’s Wave Resources: CSIRO,
Ocean Renewable Energy 2015-2050
Slide4ARENA’s ocean energy
investment strategy
Technology/Area
% of committed funds
Big solar projects
33.5 %Bioenergy5.3 %Geothermal
8.9 %Hybrid/enabling2.2 %
Hydropower0.1 %ocean
Energy(5 -) 10 %
REVC9.5 %
Solar R&D16.5 %
Solar skills1.8 %Other12.5 %TOTAL100.0%
Our projects will provide data onECONOMIC CASEwhere the best sites are for ocean energy investmentsunderstanding of performance and project cost skills and infrastructure needed to support wave energy projectsENVIRONMENTAL IMPACTimpact of wave arrays on ocean environmentsManaging risk issues
INTEGRATING WAVE POWER INTO THE GRID
better
understanding of
how
ocean
energy fits with demand
ARENA’s portfolio and % of committed funds
Slide5Lessons Learnt to date
WAVE PROJECTS ARE COMPLEX
Overcome harsh environment – the power of the ocean
Permitting/environmental impact
Logistics
REQUIRE TECHNOLOGY SPECIFIC SOLUTIONSUndersea connections and cablingTransportation to siteDecommissioningFOUNDATIONS LAID FOR COMMERCIALISATION
FinancingIndustry skills and capability
Customer baseARENA CRUCIAL TO REDUCING FUTURE PROJECT RISKMultiple possible points of failure
Exceptional project logistics and ocean engineering ingenuity and experienceRisk management capability required
Carnegie Wave Energy Buoy
Slide6The way ahead – ARENA and ocean energy strategy
Government stated intentions
Maximise existing project benefits and the $1billion committed to date
Existing contracts meeting milestones unaffected
Legislation required to pass Parliament
ARENA business as usualLooking forwardocean energy sector review
Consult with our existing portfolio, industry and related ocean bodies
Examine our projects in light of global trends and the commercialisation pathwayContinue to gather and share lessons learnt with the industry
Tidal resources in King Sound, WA:
CSIRO, Ocean
Renewable Energy 2015-2050
Slide7arena.gov.auThank you