The WaveFarm project will develop the WaveFarms into a complete commercial package that the customer can use to produce indigenous, stable renewable energy.
Customer needs and expectations for the WaveFarms will be gathered and brought front and centre in the WaveFarm product portfolio.
WaveFarm manufacturing, logistics and site infrastructure will be packaged to benefit the customer’s needs and expectations.
WaveFarm lifecycle services will offer a way for the customer to fulfil their GHG emission reduction targets in a cost-efficient way now and in the future
Greenhouse gas emission reduction: By replacing fossil fuel power generation, this project will result in a total of 273,626 T of CO2 reduction by 2027.
Reducing fossil fuel backup generation: Wave energy is a highly reliable form of renewable energy, with production from WaveFarms very seldom dropping to zero. This reduces the need for back-up power generation, which is currently used to compensate for the intermittency of solar and wind plants.
Supporting other renewables: WaveFarms will be developed in parallel with solar and wind projects. As wave power is constant, and peak production often occurs when solar and wind supply decreases, WaveFarms can be used as balancing mechanisms to support the growth of other forms of renewable energy.
Lower fossil fuel imports: Countries currently importing oil, gas and coal for fuel generation can switch to indigenous renewable power generation using WaveFarms, and can also safely expand their use of other renewables using wave power as a stability balancing mechanism. This provides energy independence, and reduces the incentive for further fossil fuel exploration.
Lower fuel transportation: Ocean-based fuel transportation will reduce as more countries utilize their own wave power resources. Within countries, there will be a reduction in the use of road-based transportation to deliver fossil fuels. This is a particular problem in decentralized countries, which currently suffer from heavy traffic and its ensuing health and safety problems as a result of frequent road-based fuel transportation.
International development: Half of WaveFarm development costs are spent in products and services in local host countries. This includes the local capacity building required to ensure operation and maintenance of the plant. WaveFarms can provide energy independence and clean electricity supply to developing countries, boosting their economic activity and opportunities.
Local impacts: WaveFarm projects will create economic opportunities for local populations, especially communities in coastal regions. WaveFarms contribute to local manufacturing and consequently increased employment and work. In addition, WaveFarms have been shown to attract fish stocks, which will benefit local fishing industries.