After what can fairly be described as an extended commissioning period, Pelamis announced today that the Portuguese project comprising 3 750 kW devices has been officially inaugurated by the Portuguese Economy Minister.There's some interesting stuff in the press release. The project has an installed capacity of 2.25 MW and cost €9 million: put another way, that's £3.16 million/MW. Compared with recently published figures for Greater Gabbard offshore windfarm, which estimate capital costs at around £2.8 million/MW, this suggests that wave is almost competitive with offshore wind already. And wave gets 2 ROCs/MWh in the UK (maybe 5 in Scotland), against 1.5 ROCS/MWhr for offshore wind.
So unless there's a load of hidden cost in the Portuguese project, this is really encouraging for wave power.
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