Aim & Objectives

Project Aim

The main aim of the project is to investigate the reduction of Levelised Cost of Electricity (LCOE) in offshore marine renewable energy farms and motivate industry to move far from shore into deep waters.

Objectives

1. TETHYS Concept Design

The platform is based on the Pneumatically Stabilized Platform (PSP) patented by Float Incorporated [1]. It is properly sized to accommodate all the appropriate facilities (for more information on this: Multi-Purpose Platform). The size and the shape are aiming to maximise the wave wake at the lee side of the platform, to create a calm area for mooring. The feasibility of the design has been assessed as well, covering basic Hydrostatics and Hydrodynamics analysis.

2. Wind and Wave Energy Extraction

The platform produces its own energy taking advantage of the integrated innovative Oscillating Water Column Wave Energy Converter (OWC-WEC), patented by Float Incorporated [2] and the two 6 MW wind turbines. Wind and wave energy harnessing has been modelled and the total annual energy yield has been calculated. The outputs of the analysis are used in the Financial Analysis in which the Levelised Cost of Electricity (LCOE) of the overall project is estimated and compared with the LCOE using the Mothership concept (for more information on Mothership follow the link).

3. Lifecycle Cost Assessment

The Levelised Cost of Electricity of the project is calculated, using as main inputs the total energy yield from the accompanied floating wind farm and the integrated wind and wave devices, the structural and implementation costs and the basic operational and maintenance costs.

4. Comparison with Mothership

The outputs of the Lifecycle Cost Assessment of the proposed system are compared to the state-of-the-art and currently preferred method used by industry, the Mothership. A comprehensive sensitivity analysis to ensure the economic sustainability of the project has been conducted as well.

5. Impact Assessment

Finally, to assure the environmental and social sustainability, basic Environmental and Social Impact Assessment has been conducted.