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OpenHydro
Engineers Ireland Conference | 22nd April 2010
  g                                  p


息 OpenHydro Group Limited 2010 | Confidential | James Ives
際際滷 1 | 息 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



際際滷 2 | 息 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



際際滷 3 | 息 OpenHydro Group Limited 2010
Tidal Energy
Why Tidal




                                           Predictability   Energy Density   No Visual / Noise
                                                                                  Impact
               Tidal

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

際際滷 4 | 息 OpenHydro Group Limited 2010
Tidal Energy




際際滷 5 | 息 OpenHydro Group Limited 2010
Tidal Energy
Tidal Measurements

      Tides are governed by the Sun and Moons 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.



際際滷 6 | 息 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



際際滷 7 | 息 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.



際際滷 8 | 息 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.


際際滷 9 | 息 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



際際滷 10 | 息 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
                                                                             OpenHydros Turbine Research Structure
                                                           www.emec.org.uk



際際滷 11 | 息 OpenHydro Group Limited 2010
Turbine Testing
Installation Work (2006)




際際滷 12 | 息 OpenHydro Group Limited 2010
Turbine Testing
Grid Connection

      500m of subsea cable was recovered and relayed to OpenHydros platform to

      complete the 11kV grid connection.




際際滷 13 | 息 OpenHydro Group Limited 2010
Turbine Testing




際際滷 14 | 息 OpenHydro Group Limited 2010
Turbine Testing




際際滷 15 | 息 OpenHydro Group Limited 2010
Turbine Testing
                                            Grid Operation

                                               First company to

                                               connect and

                                               generate onto UK

                                               national grid (2008).




際際滷 16 | 息 OpenHydro Group Limited 2010
Turbine Testing
Turbine Exchange

      Since 2006, OpenHydro have tested five 6m

      Open-Centre Turbines at the EMEC facility.




際際滷 17 | 息 OpenHydro Group Limited 2010
Turbine Testing
Lessons Learnt

      The installation at EMEC provides

      OpenHydro with an invaluable platform for

      tidal turbine research and development.

      OpenHydros 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.



際際滷 18 | 息 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



際際滷 19 | 息 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.



際際滷 20 | 息 OpenHydro Group Limited 2010
Subsea Installation




際際滷 21 | 息 OpenHydro Group Limited 2010
Subsea Installation




際際滷 22 | 息 OpenHydro Group Limited 2010
Subsea Installation




際際滷 23 | 息 OpenHydro Group Limited 2010
Subsea Installation




際際滷 24 | 息 OpenHydro Group Limited 2010
Subsea Installation




際際滷 25 | 息 OpenHydro Group Limited 2010
Subsea Installation




際際滷 26 | 息 OpenHydro Group Limited 2010
Subsea Installation




際際滷 27 | 息 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.




際際滷 28 | 息 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



際際滷 29 | 息 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.




際際滷 30 | 息 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


際際滷 31 | 息 OpenHydro Group Limited 2010
Commercial Developments
10m Open-Centre Turbine (1MW Rated)




際際滷 32 | 息 OpenHydro Group Limited 2010
Commercial Developments




際際滷 33 | 息 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.




際際滷 34 | 息 OpenHydro Group Limited 2010
Commercial Developments
lectricit辿 De France (EDF)




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


際際滷 35 | 息 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.



際際滷 36 | 息 OpenHydro Group Limited 2010
Commercial Developments




際際滷 37 | 息 OpenHydro Group Limited 2010
Commercial Developments
Turbine Technology

      OpenHydro and EDF are working collaboratively

      on the optimisation of the turbine.




際際滷 38 | 息 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


際際滷 39 | 息 OpenHydro Group Limited 2010
Commercial Developments
SSE Renewables




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


際際滷 40 | 息 OpenHydro Group Limited 2010
Commercial Developments
SnoPUD




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


際際滷 41 | 息 OpenHydro Group Limited 2010
Commercial Developments


                                            ?
Ireland




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


際際滷 42 | 息 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.



際際滷 43 | 息 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




際際滷 44 | 息 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



際際滷 45 | 息 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.



際際滷 46 | 息 OpenHydro Group Limited 2010
OpenHydro
Turbine Manufacture

      Dedicated research and

      development technology centre.

      Capacity to manufacture 6m,

      10m and 16m turbines.




際際滷 47 | 息 OpenHydro Group Limited 2010
OpenHydro




際際滷 48 | 息 OpenHydro Group Limited 2010
OpenHydro
OpenHydro Team




      OpenHydro has targeted the recruitment of exceptional individuals from

      international organisations with transferable skills.
                      g


際際滷 49 | 息 OpenHydro Group Limited 2010
OpenHydro




際際滷 50 | 息 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



際際滷 51 | 息 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



                      際際滷 52 | 息 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




  際際滷 53 | 息 OpenHydro Group Limited 2010
Thank You
j
james.ives@openhydro.com
          @ p   y


息 OpenHydro Group Limited 2010 | Confidential | James Ives
際際滷 54 | 息 OpenHydro Group Limited 2010
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Open Hydro

  • 1. OpenHydro Engineers Ireland Conference | 22nd April 2010 g p 息 OpenHydro Group Limited 2010 | Confidential | James Ives 際際滷 1 | 息 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 際際滷 2 | 息 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 際際滷 3 | 息 OpenHydro Group Limited 2010
  • 4. Tidal Energy Why Tidal Predictability Energy Density No Visual / Noise Impact Tidal Wave - - Wind - - - Bio Fuels - - Solar - - - 際際滷 4 | 息 OpenHydro Group Limited 2010
  • 5. Tidal Energy 際際滷 5 | 息 OpenHydro Group Limited 2010
  • 6. Tidal Energy Tidal Measurements Tides are governed by the Sun and Moons 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. 際際滷 6 | 息 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 際際滷 7 | 息 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. 際際滷 8 | 息 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. 際際滷 9 | 息 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 際際滷 10 | 息 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 OpenHydros Turbine Research Structure www.emec.org.uk 際際滷 11 | 息 OpenHydro Group Limited 2010
  • 12. Turbine Testing Installation Work (2006) 際際滷 12 | 息 OpenHydro Group Limited 2010
  • 13. Turbine Testing Grid Connection 500m of subsea cable was recovered and relayed to OpenHydros platform to complete the 11kV grid connection. 際際滷 13 | 息 OpenHydro Group Limited 2010
  • 14. Turbine Testing 際際滷 14 | 息 OpenHydro Group Limited 2010
  • 15. Turbine Testing 際際滷 15 | 息 OpenHydro Group Limited 2010
  • 16. Turbine Testing Grid Operation First company to connect and generate onto UK national grid (2008). 際際滷 16 | 息 OpenHydro Group Limited 2010
  • 17. Turbine Testing Turbine Exchange Since 2006, OpenHydro have tested five 6m Open-Centre Turbines at the EMEC facility. 際際滷 17 | 息 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. OpenHydros 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. 際際滷 18 | 息 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 際際滷 19 | 息 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. 際際滷 20 | 息 OpenHydro Group Limited 2010
  • 21. Subsea Installation 際際滷 21 | 息 OpenHydro Group Limited 2010
  • 22. Subsea Installation 際際滷 22 | 息 OpenHydro Group Limited 2010
  • 23. Subsea Installation 際際滷 23 | 息 OpenHydro Group Limited 2010
  • 24. Subsea Installation 際際滷 24 | 息 OpenHydro Group Limited 2010
  • 25. Subsea Installation 際際滷 25 | 息 OpenHydro Group Limited 2010
  • 26. Subsea Installation 際際滷 26 | 息 OpenHydro Group Limited 2010
  • 27. Subsea Installation 際際滷 27 | 息 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. 際際滷 28 | 息 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 際際滷 29 | 息 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. 際際滷 30 | 息 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 際際滷 31 | 息 OpenHydro Group Limited 2010
  • 32. Commercial Developments 10m Open-Centre Turbine (1MW Rated) 際際滷 32 | 息 OpenHydro Group Limited 2010
  • 33. Commercial Developments 際際滷 33 | 息 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. 際際滷 34 | 息 OpenHydro Group Limited 2010
  • 35. Commercial Developments lectricit辿 De France (EDF) Installation of four large Open-Centre Turbines for EDF in Brittany site (2011/12). g p y ( ) 際際滷 35 | 息 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. 際際滷 36 | 息 OpenHydro Group Limited 2010
  • 37. Commercial Developments 際際滷 37 | 息 OpenHydro Group Limited 2010
  • 38. Commercial Developments Turbine Technology OpenHydro and EDF are working collaboratively on the optimisation of the turbine. 際際滷 38 | 息 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 際際滷 39 | 息 OpenHydro Group Limited 2010
  • 40. Commercial Developments SSE Renewables Awarded license in UK for 200MW joint venture with SSE Renewables. j 際際滷 40 | 息 OpenHydro Group Limited 2010
  • 41. Commercial Developments SnoPUD OpenHydro selected by SnoPUD for showcase tidal p j p y y project in the US. 際際滷 41 | 息 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. 際際滷 42 | 息 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. 際際滷 43 | 息 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 際際滷 44 | 息 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 際際滷 45 | 息 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. 際際滷 46 | 息 OpenHydro Group Limited 2010
  • 47. OpenHydro Turbine Manufacture Dedicated research and development technology centre. Capacity to manufacture 6m, 10m and 16m turbines. 際際滷 47 | 息 OpenHydro Group Limited 2010
  • 48. OpenHydro 際際滷 48 | 息 OpenHydro Group Limited 2010
  • 49. OpenHydro OpenHydro Team OpenHydro has targeted the recruitment of exceptional individuals from international organisations with transferable skills. g 際際滷 49 | 息 OpenHydro Group Limited 2010
  • 50. OpenHydro 際際滷 50 | 息 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 際際滷 51 | 息 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 際際滷 52 | 息 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 際際滷 53 | 息 OpenHydro Group Limited 2010
  • 54. Thank You j james.ives@openhydro.com @ p y 息 OpenHydro Group Limited 2010 | Confidential | James Ives 際際滷 54 | 息 OpenHydro Group Limited 2010