A big step toward for ocean energy in West Africa: Plans to install the first 1.5 MW commercial-scale ocean thermal energy conversion (OTEC) floating platform seem to be moving forward, with UK-based ocean energy company Global OTEC signing an MoU with France-based heat-to-electricity provider Enogia to develop key subsystems for the project, according to a statement. The station will be located in the small island county of São Tomé and Príncipe off the coast of West Africa, where more commercial solutions such as solar and wind energy are less viable due to land scarcity. The project — scheduled for operation in 2025 — signals a new era for the nascent renewable energy source.

Types of ocean energy: Some ocean energy technologies rely on the movement of currents such as tidal steam, tidal barrage, and waves, a recent report (pdf) by the International Renewable Energy Agency (Irena) and Ocean Energy Europe (OEE) said. While tidal stream technologies have electrical generators installed directly into them, tidal barrages do not, and instead require a wall to obstruct the flow and generate energy. Other technologies like OTEC and salinity gradients are able to extract energy from temperature changes and differences in salinity concentration respectively, the report explains.

A host of benefits: Ocean energy can work harmoniously with the blue economy, contribute to climate change mitigation, and create jobs, all while supporting overall grid resilience, the report shows. It is also a relatively predictable source that can easily integrate other renewables and energy storage, in addition to its potential to combine with water desalination. Some 680k direct jobs could be created globally by 2050 if the nascent sector continues to grow, according to IRENA.

Ocean energy could hold a global market potential of 350 GW by 2050 for coastal and island countries, according to the report. The study stresses on the necessity of scaling up investments in the technology to help with decentralization and decarbonization efforts, especially in the face of energy insecurity heightened by Covid and the Russia-Ukraine conflict.

The current global potential isn’t matching deployment: While tidal stream and wave energy converters are the most mature solutions applicable across different geographies, only 10.6 MW are installed globally, according to 2020 figures. Instead, tidal barrages — which are often more intrusive to the environment and have a lower energy potential — represent more than 95% of all ocean energy installed. OTEC has the highest energy potential, but one of the lowest deployment rates.

Island and coastal countries will be the most to benefit: Coastal countries and island communities have strong potential to bring together a “blue economy” — one which sees energy channeled from the ocean to back the decarbonization of vital marine activities like shipping, power generation, cooling, aquaculture, and water desalination. Such a blue economy is needed due to the lack of inland space to deploy onshore renewables and costly fossil fuel imports and electricity generation, the report explains. The deployment of the technology could help bring in new revenue streams and higher cashflows for such areas, while slashing the levelized cost of electricity (LCOE).

But MENA is also interested: Oman’s Transport Ministry and a consortium of companies inked an agreement back in March to extend feasibility studies for tidal power at the Masirah sea bridge, with the results expected by the end of the year to guide the investment decision. Some see growing potential near Abu Dhabi, where there are habitual tidal creeks and lagoons, according to Energy Dubai. Dubai’s Palm Islands could also help the Gulf country build on tidal energy too.

But investments are needed: To reach appropriate volumes of renewable energy and facilitate cost reductions, ocean energy will need to develop utility-scale projects, the Irena and OEE report said. Steps like introducing joint tenders with other renewable installations and promoting application on islands and in coastal countries will require “clear signals from governments to provide visibility about the future market to private investors,” the report added. Other measures like feed-in tariffs with clear targets for energy generation and dedicated deployment zones like wind energy and solar PV projects are also suggested.

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