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OpenHydro
Engineers Ireland Conference | 22nd April 2010
  g                                  p


© OpenHydro Group Limited 2010 | Confidential | James Ives
Slide 1 | © OpenHydro Group Limited 2010
Agenda

                           1. Tidal Energy

                           2. Technology Development

                                           Open-Centre Turbine

                                           Turbine Testing

                                           Subsea Installation

                           3. Commercial Developments

                           4. OpenHydro

                           5. Financials



Slide 2 | © OpenHydro Group Limited 2010
Agenda

                           1. Tidal Energy

                           2. Technology Development

                                           Open-Centre Turbine

                                           Turbine Testing

                                           Subsea Installation

                           3. Commercial Developments

                           4. OpenHydro

                           5. Financials



Slide 3 | © OpenHydro Group Limited 2010
Tidal Energy
Why Tidal




                                           Predictability   Energy Density   No Visual / Noise
                                                                                  Impact
               Tidal

              Wave                               -                                   -
              Wind                               -                -                  -
          Bio Fuels                                               -                  -
              Solar                              -                -                  -

Slide 4 | © OpenHydro Group Limited 2010
Tidal Energy




Slide 5 | © OpenHydro Group Limited 2010
Tidal Energy
Tidal Measurements

      Tides are governed by the Sun and Moon’s gravitational

      field; making them completely predictable.

      Tidal velocities can be measured using an Acoustic

      Doppler Current Profiler (ADCP).



      Using harmonic analysis, 28 days of measurement (2 x 14

      day cycles) can be extrapolated to calculate tidal velocities

      accurately into the future.



Slide 6 | © OpenHydro Group Limited 2010
Agenda

                           1. Tidal Energy

                           2. Technology Development

                                           Open-Centre Turbine

                                           Turbine Testing

                                           Subsea Installation

                           3. Commercial Developments

                           4. OpenHydro

                           5. Financials



Slide 7 | © OpenHydro Group Limited 2010
Open-Centre Turbine
Open-Centre Turbine

      The key to the Open-Centre Turbine

      lies in the simplicity of design.

      If a turbine is to survive in the

      marine environment it is essential

      that it be both simple and robust
                                 robust.

      OpenHydro owns the worldwide

      rights to the technology; portfolio of

      over 30 secured or pending patents.



Slide 8 | © OpenHydro Group Limited 2010
Open-Centre Turbine
Technology

1. Simple construction with only one

      moving part and no seals.

2. Permanent magnet generator, no gearbox.

3. Scalable design, currently at 10m [1MW rated].


Environmental

1. Large open centre provides an exit route for marine life.

2. Design avoids the need for oils, greases or other lubricating fluids.

                                                    g
3. Retention of rotor blades within the outer housing.


Slide 9 | © OpenHydro Group Limited 2010
Agenda

                           1. Tidal Energy

                           2. Technology Development

                                            Open-Centre Turbine

                                            Turbine Testing

                                            Subsea Installation

                           3. Commercial Developments

                           4. OpenHydro

                           5. Financials



Slide 10 | © OpenHydro Group Limited 2010
Turbine Testing
Turbine Testing

      Testing performed at the publicly financed

      European Marine Energy Centre1 (EMEC) in

      Orkney off the coast of northern Scotland.

      No ‘soft option’ with some of Europe's

      strongest tides (8 5 knots) and extreme
                      (8.5

      weather climate.

      OpenHydro is the only tidal developer to

      have installed and tested a device at EMEC.
                                            1 Reference:
                                                                             OpenHydro s
                                                                             OpenHydro’s Turbine Research Structure
                                                           www.emec.org.uk



Slide 11 | © OpenHydro Group Limited 2010
Turbine Testing
Installation Work (2006)




Slide 12 | © OpenHydro Group Limited 2010
Turbine Testing
Grid Connection

      500m of subsea cable was recovered and relayed to OpenHydro’s platform to

      complete the 11kV grid connection.




Slide 13 | © OpenHydro Group Limited 2010
Turbine Testing




Slide 14 | © OpenHydro Group Limited 2010
Turbine Testing




Slide 15 | © OpenHydro Group Limited 2010
Turbine Testing
                                            Grid Operation

                                               First company to

                                               connect and

                                               generate onto UK

                                               national grid (2008).




Slide 16 | © OpenHydro Group Limited 2010
Turbine Testing
Turbine Exchange

      Since 2006, OpenHydro have tested five 6m

      Open-Centre Turbines at the EMEC facility.




Slide 17 | © OpenHydro Group Limited 2010
Turbine Testing
Lessons Learnt

      The installation at EMEC provides

      OpenHydro with an invaluable platform for

      tidal turbine research and development.

      OpenHydro’s team have unique

      knowledge and experience of operating in

      strong tidal sites and with grid connection.

      For commercial deployments, OpenHydro

      do not regard piled structures as viable.



Slide 18 | © OpenHydro Group Limited 2010
Agenda

                           1. Tidal Energy

                           2. Technology Development

                                            Open-Centre Turbine

                                            Turbine Testing

                                            Subsea Installation

                           3. Commercial Developments

                           4. OpenHydro

                           5. Financials



Slide 19 | © OpenHydro Group Limited 2010
Subsea Installation
Subsea Deployment

      Commercial design is for

      turbines mounted directly

      on the seabed.



      During 2008 OpenHydro
             2008,

      built and deployed its

      first seabed mounted

      turbine at EMEC.



Slide 20 | © OpenHydro Group Limited 2010
Subsea Installation




Slide 21 | © OpenHydro Group Limited 2010
Subsea Installation




Slide 22 | © OpenHydro Group Limited 2010
Subsea Installation




Slide 23 | © OpenHydro Group Limited 2010
Subsea Installation




Slide 24 | © OpenHydro Group Limited 2010
Subsea Installation




Slide 25 | © OpenHydro Group Limited 2010
Subsea Installation




Slide 26 | © OpenHydro Group Limited 2010
Subsea Installation




Slide 27 | © OpenHydro Group Limited 2010
Subsea Installation
Lessons Learnt

      Our experience has shown us that the appropriate equipment for installing tidal

      turbines does not exist in the general marine market.

      This new deployment method turns a difficult and lengthy project of many months

      into a quick and cost-efficient single day operation.

      A cost effective deployment method is essential for developing commercial farms
                                                                                farms.




Slide 28 | © OpenHydro Group Limited 2010
Agenda

                           1. Tidal Energy

                           2. Technology Development

                                            Open-Centre Turbine

                                            Turbine Testing

                                            Subsea Installation

                           3. Commercial Developments

                           4. OpenHydro

                           5. Financials



Slide 29 | © OpenHydro Group Limited 2010
Commercial Developments
Group Structure

      OpenHydro Group Ltd is organised into two principal operating groups:

                                                      OpenHydro Group Ltd


                                       OpenHydro Technology                               OpenHydro Site
                                                                                          O         S
                                                                                           Development

            Engineering                       Manufacturing            Operations         Site Development
             Design and                       Manufacture of           Services to         Developer of tidal
      development of tidal                   turbines, subsea      developers including   farms up to point of
         energy systems.                    bases and electrical      site selection,     construction; either
                                                 systems.
                                                 systems               consenting,
                                                                       consenting            directly or in
                                                                     installation and        partnership.
                                                                         ongoing
                                                                      maintenance.




Slide 30 | © OpenHydro Group Limited 2010
Commercial Developments
Nova Scotia Power Inc (NSPI)




      Installation of 10m (1MW rated) turbine in Bay of Fundy for Nova Scotia Power.
                          (         )              y        y


Slide 31 | © OpenHydro Group Limited 2010
Commercial Developments
10m Open-Centre Turbine (1MW Rated)




Slide 32 | © OpenHydro Group Limited 2010
Commercial Developments




Slide 33 | © OpenHydro Group Limited 2010
Commercial Developments
                                            Turbine Deployment (Bay of Fundy)

                                               The installation was completed on first attempt on

                                               the 12th November to a high degree of accuracy.




Slide 34 | © OpenHydro Group Limited 2010
Commercial Developments
Électricité De France (EDF)




      Installation of four large Open-Centre Turbines for EDF in Brittany site (2011/12).
                              g   p                                     y      (       )


Slide 35 | © OpenHydro Group Limited 2010
Commercial Developments
16m Turbine Design

      The project will feature

      an array of 4 x 16m

      diameter turbines.

      These large turbines

      are designed to

      maximise the energy

      generation at the

      project site.



Slide 36 | © OpenHydro Group Limited 2010
Commercial Developments




Slide 37 | © OpenHydro Group Limited 2010
Commercial Developments
Turbine Technology

      OpenHydro and EDF are working collaboratively

      on the optimisation of the turbine.




Slide 38 | © OpenHydro Group Limited 2010
Commercial Developments
Alderney Renewable Energy (ARE)




      OpenHydro holds 20% investment in ARE; site with potential to develop 3GW.
       p   y                               ;           p                  p


Slide 39 | © OpenHydro Group Limited 2010
Commercial Developments
SSE Renewables




      Awarded license in UK for 200MW joint venture with SSE Renewables.
                                      j


Slide 40 | © OpenHydro Group Limited 2010
Commercial Developments
SnoPUD




      OpenHydro selected by SnoPUD for showcase tidal p j
       p   y              y                           project in the US.


Slide 41 | © OpenHydro Group Limited 2010
Commercial Developments


                                            ?
Ireland




      Ireland has significant tidal resource; potential to p
                    g                       ;p             provide 10% of energy g
                                                                              gy generation.


Slide 42 | © OpenHydro Group Limited 2010
Commercial Developments
Ireland

      Tidal offers two potential benefits for

      Ireland:

        1. To become a world leader in Tidal

               Technology and develop a major

               export industry
                      industry.

        2. To provide 10% of its energy needs

               from a clean and predictable energy

               source.



Slide 43 | © OpenHydro Group Limited 2010
Commercial Developments
Global Resource                                                      Tidal Resource Assessment

                                                                     OECD                 Scale
                                                                        Canada            Tier 1
                                                                        UK                Tier 1
                                                                        US                Tier 1
                                                                        Japan             Tier 1
                                                                        France            Tier 1
                                                                        New Zealand       Tier 2
                                                                        Australia         Tier 2
                                                                        Falklands         Tier 3
                                                                        Korea             Tier 3
                                                                        Singapore         Tier 3
                                                                        Ireland           Tier 3

                                                                     TRANSITION
                                                                        China             Tier 1
                                                                        India             Tier 2
                                                                        Indonesia         Tier 2
                                                                        Philippines       Tier 2
                                                                        Brazil            Tier 2
                                                                        Russia            Tier 3

                                                                     DEVELOPING
                                                                        Guyana            Tier 2
                                                                        Bangladesh        Tier 2
                                                                        New Guinea        Tier 2
                                                                        Burma             Tier 2
      An industry estimated to be worth €128bn in equipment sales.      Tanzania          Tier 2




Slide 44 | © OpenHydro Group Limited 2010
Agenda

                           1. Tidal Energy

                           2. Technology Development

                                            Open-Centre Turbine

                                            Turbine Testing

                                            Subsea Installation

                           3. Commercial Developments

                           4. OpenHydro

                           5. Financials



Slide 45 | © OpenHydro Group Limited 2010
OpenHydro
                                            Company Background

                                              OpenHydro was formed in 2004 following the

                                              acquisition of the world technology rights to the

                                              Open-Centre Turbine.

                                              40 employees across two main locations:

                                              Greenore Technical Centre & Dublin Office
                                                                                 Office.

                                              Project offices in Scotland and Canada.

                                              Experienced Board and Management with

                                              relevant engineering and commercial experience.



Slide 46 | © OpenHydro Group Limited 2010
OpenHydro
Turbine Manufacture

      Dedicated research and

      development technology centre.

      Capacity to manufacture 6m,

      10m and 16m turbines.




Slide 47 | © OpenHydro Group Limited 2010
OpenHydro




Slide 48 | © OpenHydro Group Limited 2010
OpenHydro
OpenHydro Team




      OpenHydro has targeted the recruitment of exceptional individuals from

      international organisations with transferable skills.
                      g


Slide 49 | © OpenHydro Group Limited 2010
OpenHydro




Slide 50 | © OpenHydro Group Limited 2010
Agenda

                           1. Tidal Energy

                           2. Technology Development

                                            Open-Centre Turbine

                                            Turbine Testing

                                            Subsea Installation

                           3. Commercial Developments

                           4. OpenHydro

                           5. Financials



Slide 51 | © OpenHydro Group Limited 2010
Financials
                           EMEC Research
                             Structure                        Tidal Farm Economics

                                                                  Significant reduction in capital cost already achieved.

                            €24m /MW
                                                                  Primary driver is low cost of turbine and installation method.

                                                                  Further significant cost reductions identified and underway.
Capital Cost Per MW




                                                                    EMEC Subsea
                                                                    Deployment
        C




                                                                                  Nova Scotia
                                                                                  Deployment



                                                                    €7m /MW

                                                                                                                            First 100MW
                                                                                  €3m/MW                                     Installation

                                                                                                                        €1.6m/MW
                                2006                  2007            2008          2009                                      2013



                      Slide 52 | © OpenHydro Group Limited 2010
Financials
  OpenHydro Tidal Turbine Economics

                   Marine - Wave

                    Marine Tidal
                    M i - Tid l

                  PV - Crystalline

                   PV - Thin Film

STEG - Parabolic Trough + Storage

         STEG - Parabolic Trough

                  Wind - Offshore

   Biomass - Anaerobic Digestion

           Biomass - Gasification
                                                                                                        OpenHydro predict a cost per
           Biomass - Incineration

                  Wind - Onshore                                                                        MWh of €117 ( fi
                                                                                                             f      (ex financing).
                                                                                                                              i )
                     Landfill Gas

            Municipal Solid Waste

        Geothermal - Binary Plant
                                                                                                        Primary drivers are low cost
         Geothermal - Flash Plant

               Natural Gas CCGT                                                                         of manufacture & installation.
                       Coal Fired

                                     $-         $50         $100         $150          $200        $250           $300   $350   $400
                                              LCOE    Carbon: 15 EUR
                                                      C b              Carbon: NEF E ti t
                                                                       C b         Estimates   Central Scenario
                                                                                               C t lS        i




  Slide 53 | © OpenHydro Group Limited 2010
Thank You
j
james.ives@openhydro.com
          @ p   y


© OpenHydro Group Limited 2010 | Confidential | James Ives
Slide 54 | © OpenHydro Group Limited 2010

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Open Hydro

  • 1. OpenHydro Engineers Ireland Conference | 22nd April 2010 g p © OpenHydro Group Limited 2010 | Confidential | James Ives Slide 1 | © OpenHydro Group Limited 2010
  • 2. Agenda 1. Tidal Energy 2. Technology Development Open-Centre Turbine Turbine Testing Subsea Installation 3. Commercial Developments 4. OpenHydro 5. Financials Slide 2 | © OpenHydro Group Limited 2010
  • 3. Agenda 1. Tidal Energy 2. Technology Development Open-Centre Turbine Turbine Testing Subsea Installation 3. Commercial Developments 4. OpenHydro 5. Financials Slide 3 | © OpenHydro Group Limited 2010
  • 4. Tidal Energy Why Tidal Predictability Energy Density No Visual / Noise Impact Tidal Wave - - Wind - - - Bio Fuels - - Solar - - - Slide 4 | © OpenHydro Group Limited 2010
  • 5. Tidal Energy Slide 5 | © OpenHydro Group Limited 2010
  • 6. Tidal Energy Tidal Measurements Tides are governed by the Sun and Moon’s gravitational field; making them completely predictable. Tidal velocities can be measured using an Acoustic Doppler Current Profiler (ADCP). Using harmonic analysis, 28 days of measurement (2 x 14 day cycles) can be extrapolated to calculate tidal velocities accurately into the future. Slide 6 | © OpenHydro Group Limited 2010
  • 7. Agenda 1. Tidal Energy 2. Technology Development Open-Centre Turbine Turbine Testing Subsea Installation 3. Commercial Developments 4. OpenHydro 5. Financials Slide 7 | © OpenHydro Group Limited 2010
  • 8. Open-Centre Turbine Open-Centre Turbine The key to the Open-Centre Turbine lies in the simplicity of design. If a turbine is to survive in the marine environment it is essential that it be both simple and robust robust. OpenHydro owns the worldwide rights to the technology; portfolio of over 30 secured or pending patents. Slide 8 | © OpenHydro Group Limited 2010
  • 9. Open-Centre Turbine Technology 1. Simple construction with only one moving part and no seals. 2. Permanent magnet generator, no gearbox. 3. Scalable design, currently at 10m [1MW rated]. Environmental 1. Large open centre provides an exit route for marine life. 2. Design avoids the need for oils, greases or other lubricating fluids. g 3. Retention of rotor blades within the outer housing. Slide 9 | © OpenHydro Group Limited 2010
  • 10. Agenda 1. Tidal Energy 2. Technology Development Open-Centre Turbine Turbine Testing Subsea Installation 3. Commercial Developments 4. OpenHydro 5. Financials Slide 10 | © OpenHydro Group Limited 2010
  • 11. Turbine Testing Turbine Testing Testing performed at the publicly financed European Marine Energy Centre1 (EMEC) in Orkney off the coast of northern Scotland. No ‘soft option’ with some of Europe's strongest tides (8 5 knots) and extreme (8.5 weather climate. OpenHydro is the only tidal developer to have installed and tested a device at EMEC. 1 Reference: OpenHydro s OpenHydro’s Turbine Research Structure www.emec.org.uk Slide 11 | © OpenHydro Group Limited 2010
  • 12. Turbine Testing Installation Work (2006) Slide 12 | © OpenHydro Group Limited 2010
  • 13. Turbine Testing Grid Connection 500m of subsea cable was recovered and relayed to OpenHydro’s platform to complete the 11kV grid connection. Slide 13 | © OpenHydro Group Limited 2010
  • 14. Turbine Testing Slide 14 | © OpenHydro Group Limited 2010
  • 15. Turbine Testing Slide 15 | © OpenHydro Group Limited 2010
  • 16. Turbine Testing Grid Operation First company to connect and generate onto UK national grid (2008). Slide 16 | © OpenHydro Group Limited 2010
  • 17. Turbine Testing Turbine Exchange Since 2006, OpenHydro have tested five 6m Open-Centre Turbines at the EMEC facility. Slide 17 | © OpenHydro Group Limited 2010
  • 18. Turbine Testing Lessons Learnt The installation at EMEC provides OpenHydro with an invaluable platform for tidal turbine research and development. OpenHydro’s team have unique knowledge and experience of operating in strong tidal sites and with grid connection. For commercial deployments, OpenHydro do not regard piled structures as viable. Slide 18 | © OpenHydro Group Limited 2010
  • 19. Agenda 1. Tidal Energy 2. Technology Development Open-Centre Turbine Turbine Testing Subsea Installation 3. Commercial Developments 4. OpenHydro 5. Financials Slide 19 | © OpenHydro Group Limited 2010
  • 20. Subsea Installation Subsea Deployment Commercial design is for turbines mounted directly on the seabed. During 2008 OpenHydro 2008, built and deployed its first seabed mounted turbine at EMEC. Slide 20 | © OpenHydro Group Limited 2010
  • 21. Subsea Installation Slide 21 | © OpenHydro Group Limited 2010
  • 22. Subsea Installation Slide 22 | © OpenHydro Group Limited 2010
  • 23. Subsea Installation Slide 23 | © OpenHydro Group Limited 2010
  • 24. Subsea Installation Slide 24 | © OpenHydro Group Limited 2010
  • 25. Subsea Installation Slide 25 | © OpenHydro Group Limited 2010
  • 26. Subsea Installation Slide 26 | © OpenHydro Group Limited 2010
  • 27. Subsea Installation Slide 27 | © OpenHydro Group Limited 2010
  • 28. Subsea Installation Lessons Learnt Our experience has shown us that the appropriate equipment for installing tidal turbines does not exist in the general marine market. This new deployment method turns a difficult and lengthy project of many months into a quick and cost-efficient single day operation. A cost effective deployment method is essential for developing commercial farms farms. Slide 28 | © OpenHydro Group Limited 2010
  • 29. Agenda 1. Tidal Energy 2. Technology Development Open-Centre Turbine Turbine Testing Subsea Installation 3. Commercial Developments 4. OpenHydro 5. Financials Slide 29 | © OpenHydro Group Limited 2010
  • 30. Commercial Developments Group Structure OpenHydro Group Ltd is organised into two principal operating groups: OpenHydro Group Ltd OpenHydro Technology OpenHydro Site O S Development Engineering Manufacturing Operations Site Development Design and Manufacture of Services to Developer of tidal development of tidal turbines, subsea developers including farms up to point of energy systems. bases and electrical site selection, construction; either systems. systems consenting, consenting directly or in installation and partnership. ongoing maintenance. Slide 30 | © OpenHydro Group Limited 2010
  • 31. Commercial Developments Nova Scotia Power Inc (NSPI) Installation of 10m (1MW rated) turbine in Bay of Fundy for Nova Scotia Power. ( ) y y Slide 31 | © OpenHydro Group Limited 2010
  • 32. Commercial Developments 10m Open-Centre Turbine (1MW Rated) Slide 32 | © OpenHydro Group Limited 2010
  • 33. Commercial Developments Slide 33 | © OpenHydro Group Limited 2010
  • 34. Commercial Developments Turbine Deployment (Bay of Fundy) The installation was completed on first attempt on the 12th November to a high degree of accuracy. Slide 34 | © OpenHydro Group Limited 2010
  • 35. Commercial Developments Électricité De France (EDF) Installation of four large Open-Centre Turbines for EDF in Brittany site (2011/12). g p y ( ) Slide 35 | © OpenHydro Group Limited 2010
  • 36. Commercial Developments 16m Turbine Design The project will feature an array of 4 x 16m diameter turbines. These large turbines are designed to maximise the energy generation at the project site. Slide 36 | © OpenHydro Group Limited 2010
  • 37. Commercial Developments Slide 37 | © OpenHydro Group Limited 2010
  • 38. Commercial Developments Turbine Technology OpenHydro and EDF are working collaboratively on the optimisation of the turbine. Slide 38 | © OpenHydro Group Limited 2010
  • 39. Commercial Developments Alderney Renewable Energy (ARE) OpenHydro holds 20% investment in ARE; site with potential to develop 3GW. p y ; p p Slide 39 | © OpenHydro Group Limited 2010
  • 40. Commercial Developments SSE Renewables Awarded license in UK for 200MW joint venture with SSE Renewables. j Slide 40 | © OpenHydro Group Limited 2010
  • 41. Commercial Developments SnoPUD OpenHydro selected by SnoPUD for showcase tidal p j p y y project in the US. Slide 41 | © OpenHydro Group Limited 2010
  • 42. Commercial Developments ? Ireland Ireland has significant tidal resource; potential to p g ;p provide 10% of energy g gy generation. Slide 42 | © OpenHydro Group Limited 2010
  • 43. Commercial Developments Ireland Tidal offers two potential benefits for Ireland: 1. To become a world leader in Tidal Technology and develop a major export industry industry. 2. To provide 10% of its energy needs from a clean and predictable energy source. Slide 43 | © OpenHydro Group Limited 2010
  • 44. Commercial Developments Global Resource Tidal Resource Assessment OECD Scale Canada Tier 1 UK Tier 1 US Tier 1 Japan Tier 1 France Tier 1 New Zealand Tier 2 Australia Tier 2 Falklands Tier 3 Korea Tier 3 Singapore Tier 3 Ireland Tier 3 TRANSITION China Tier 1 India Tier 2 Indonesia Tier 2 Philippines Tier 2 Brazil Tier 2 Russia Tier 3 DEVELOPING Guyana Tier 2 Bangladesh Tier 2 New Guinea Tier 2 Burma Tier 2 An industry estimated to be worth €128bn in equipment sales. Tanzania Tier 2 Slide 44 | © OpenHydro Group Limited 2010
  • 45. Agenda 1. Tidal Energy 2. Technology Development Open-Centre Turbine Turbine Testing Subsea Installation 3. Commercial Developments 4. OpenHydro 5. Financials Slide 45 | © OpenHydro Group Limited 2010
  • 46. OpenHydro Company Background OpenHydro was formed in 2004 following the acquisition of the world technology rights to the Open-Centre Turbine. 40 employees across two main locations: Greenore Technical Centre & Dublin Office Office. Project offices in Scotland and Canada. Experienced Board and Management with relevant engineering and commercial experience. Slide 46 | © OpenHydro Group Limited 2010
  • 47. OpenHydro Turbine Manufacture Dedicated research and development technology centre. Capacity to manufacture 6m, 10m and 16m turbines. Slide 47 | © OpenHydro Group Limited 2010
  • 48. OpenHydro Slide 48 | © OpenHydro Group Limited 2010
  • 49. OpenHydro OpenHydro Team OpenHydro has targeted the recruitment of exceptional individuals from international organisations with transferable skills. g Slide 49 | © OpenHydro Group Limited 2010
  • 50. OpenHydro Slide 50 | © OpenHydro Group Limited 2010
  • 51. Agenda 1. Tidal Energy 2. Technology Development Open-Centre Turbine Turbine Testing Subsea Installation 3. Commercial Developments 4. OpenHydro 5. Financials Slide 51 | © OpenHydro Group Limited 2010
  • 52. Financials EMEC Research Structure Tidal Farm Economics Significant reduction in capital cost already achieved. €24m /MW Primary driver is low cost of turbine and installation method. Further significant cost reductions identified and underway. Capital Cost Per MW EMEC Subsea Deployment C Nova Scotia Deployment €7m /MW First 100MW €3m/MW Installation €1.6m/MW 2006 2007 2008 2009 2013 Slide 52 | © OpenHydro Group Limited 2010
  • 53. Financials OpenHydro Tidal Turbine Economics Marine - Wave Marine Tidal M i - Tid l PV - Crystalline PV - Thin Film STEG - Parabolic Trough + Storage STEG - Parabolic Trough Wind - Offshore Biomass - Anaerobic Digestion Biomass - Gasification OpenHydro predict a cost per Biomass - Incineration Wind - Onshore MWh of €117 ( fi f (ex financing). i ) Landfill Gas Municipal Solid Waste Geothermal - Binary Plant Primary drivers are low cost Geothermal - Flash Plant Natural Gas CCGT of manufacture & installation. Coal Fired $- $50 $100 $150 $200 $250 $300 $350 $400 LCOE Carbon: 15 EUR C b Carbon: NEF E ti t C b Estimates Central Scenario C t lS i Slide 53 | © OpenHydro Group Limited 2010
  • 54. Thank You j james.ives@openhydro.com @ p y © OpenHydro Group Limited 2010 | Confidential | James Ives Slide 54 | © OpenHydro Group Limited 2010