LOW CAPITAL COST
Equipment costs are a major factor in any project/ technology and research shows they are a substantial input to total project costs or Capital Expenditure (CapEx). Research indicates the structure, prime mover and PTO and control makes up to 45% of the costs of the Levelised Cost of Electricity (LCOE) for existing technologies.
Wind and solar have provided the benchmark for target costs of mature commercial wave power projects. Ultimately the ratio of kW/kg weight of the equipment is a fundamental metric for assessing viability of WEC technologies.
A sense check also concluded that a first wave farm project would most likely be located at a medium wave resource site where maximum wave height and hence peak mooring loads are lower. This approach substantially reduces some project development risks but at the same time ups the ante to deliver high performance across the wave height spectrum whilst keeping costs to a minimum.
Additionally it is well understood ’first’ pre-commercial projects are considerably more expensive than ‘mature’ stage projects. In response a number of Feed In Tariff schemes have been introduced across Europe and the UK to foster technology development into commercial projects. Even though these schemes have been operating for a number of years, there has been little take up of this scheme.
It also appears from a number of recent events and due to the high CapEx required of small pre-commercial projects, that investors require an attractive return on a first pre-commercial project. A fundamental input to demonstrating a commercial return is the CapEx of the technology and research showed that a dramatic reduction in costs was needed to achieve this. Thus the revolutionary new Xtracta technology was born…
THE LOW COST XTRACTA
The Xtracta technology has numerous innovative low cost features including;
- The simple and lightweight floats are low cost to manufacture, they can be fitted out in hard stand before being easily slipped and then safely towed for deployment.
- Supporting structure weight is to a minimum with all conceivable weight of components etc contributing to energy extraction and electricity production.
- The housing seconds to provide a strengthening member adjoining the 2 rear floats.
- The common direct drive train and generator reduces the number of and costs of operating components/ generators and mounts etc whilst increasing utilisation of these components