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Wave Power in Portugal

Wave Power in Portugal -
Wave Power in Portugal - Portugal Business News

Wave power is now contributing to power Portugal with the deployment of the HiWave-5 Project developed by CorPower Ocean in Viana do Castelo. Portugal has 15.5 GW of harvestable wave energy according to Swedish wave energy developer CorPower Ocean.

The Portugal Country Manager of CorPower Ocean, Miguel Silva, explained that the innovative wave energy technology has huge potential to support Portugal’s future clean energy mix as a highly consistent and complementary power partner with offshore wind and solar energy. The company has partnered with EVOLVE - Economic Value of Ocean Energy, to derive benefits from ocean energy in a future low-carbon environment.

The integration of wave and tidal energy in Portugal is in line with Europe’s future low carbon energy system and the benefits include the impact on electricity prices and on carbon emissions.

CorPower Ocean developed economic dispatch models for Portugal, Great Britain and Ireland. Results have shown that increases in ocean energy reduce the overall system dispatch costs, including the cost of delivered fuel. The rigorous two-year initiative was led by Aquatera Ltd with support from WavEC - Offshore Renewables, RISE Research Institutes of Sweden and the University of Edinburgh, along with wave and tidal energy developers CorPower Ocean and Orbital Marine Power Ltd.

The EVOLVE Project has received support under the framework of the OCEANERA-NET COFUND project of the European Union’s Horizon 2020 research and innovation programme, with funding also provided by Fundação para a Ciência e a Tecnologia - FCT.

The pan-European EVOLVE project has provided strong evidence supporting the acceleration of ocean energy in Europe’s future energy system. It was found that a more diverse mix of renewables, including ocean energy, results in a more consistent renewable production profile which is better able to meet hourly electricity demands, that is the key for reaching future international net zero targets.

According to EVOLVE Technical Manager, Dr Shona Pennock, “There has been much commentary in recent years about the potential benefits of adding wave and tidal energy to the broader energy system, but this has been hampered by limited quantifiable studies. Following extensive work over a number of years, we can now draw clear conclusions from firm evidence.”

Oliver Wragg, Commercial Director at Orbital Marine Power explained that: “We know that the tides rise and fall like clockwork and can be predicted hundreds of years into the future. With the results of the EVOLVE project, we now also have clear projections for how the addition of predictable stable power generation from Europe’s fantastic tidal stream resource can help to cost effectively reach our net zero ambitions.”

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