Ocean Energy's Promise
Interest in the sector has exploded recently
The next frontier is the ocean. That seems to be the gist of an interesting new report from IHS Emerging Energy Research.
The sector has more than 45 wave and tidal prototypes expected to be ocean tested in 2010 and 2011, after only a dozen were installed in 2009. IHS thinks early success would mean the industry is ready to scale up.
IHS estimates that more than 1.8 gigawatts of ocean projects in 16 countries are currently in the pipeline.
The ocean energy industry's recent development has attracted a slew of established energy companies with renewable growth ambitions, including leading European utilities and global technology suppliers-many with hydro and offshore wind experience.
Tidal energy is poised to mature first, with the promise of providing predictable, lower-cost electricity and a standard design. Tidal is attracting major original equipment manufacturers (OEMs) into the ocean energy industry's supply side.
"The strong synergies between tidal turbine manufacturing and the hydro power industry have attracted major power sector OEMs," said IHS Senior Renewable Power Analyst Marianne Boust. "Over the past two years, all three of the major hydro power turbine vendors-Andritz Hydro, Alstom Hydro, and Voith Hydro-who account for over 80 percent of the total global hydro turbine supply, have jumped into the tidal sector."
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