Finnish renewable companies harnessing the power of the ocean for sustainable progress

Vyra Wu, DIGITIMES Asia, Taipei 0

Credit: AW-Energy

Finnish energy firms Holvi Energy and AW-Energy highlighted the pivotal role of ocean energy in Taiwan's pursuit of carbon neutrality during the 2023 Nordic-Taiwan Sustainable Energy Forum. The discussions, led by Vincent Pradier, Representative of Holvi Energy & AW-Energy in Taiwan, delved into the long-term vision required for successful ocean energy projects, emphasizing factors such as regulatory simplicity, economic viability, and collaborative efforts between local and international entities.

Expressing optimism about Taiwan's potential in ocean energy by 2030, Pradier aligned this vision with the country's ambitious renewable energy goals. He emphasized that ocean energy presents a tremendous opportunity for Taiwan.

"We now have the possibility to test and deploy the technology in Taiwan. Once we do that, the project financing will be much easier to obtain, there will be a high local content. The device will be built here in Taiwan and it's very well adapted to Taiwan's ocean climate." Pradier emphasized the importance of preparing for extreme conditions, citing storms in Europe as examples. He stressed the need for thorough testing at various scales to determine the most suitable technology for specific wave climates.

Holvi Energy is actively working to support Taiwanese partners in building and operating wave energy converters. Their focus lies on a demonstration project in Taiwan, involving the deployment of a device approximately 600 meters from the Keelung coast. This collaborative initiative with the National Taiwan Ocean University and private companies, supported by both Finnish and Taiwanese public sectors, is set to commence upon securing full funding, with an anticipated deployment timeline in 2024 or 2025.

Pradier underscored the necessity for the right policies and a stable regulatory framework to ensure seamless integration of ocean energy into Taiwan's energy mix. Holvi Energy provided insights into regulatory challenges faced by companies and stressed the importance of streamlining processes for the industry's growth.

The company is actively involved in several international projects, including a 5MW project in the Caribbean and collaborations in Europe.
Making significant strides in technology development and validation, Holvi Energy aspires to contribute 10% of the global electricity supply through wave energy.

AW-Energy, another leader in wave energy technology, showcased its flagship product, the WaveRoller, designed to capture and convert wave surge energy into electrical power. The full-scale test facility, financed by the European Investment Bank in 2016, led to ISO 9001 certification in 2018. With projects completed in over 10 locations across five countries, AW-Energy is now focused on commercialization and expansion, beginning with the sale of WaveRoller-X in EU markets.

The firm envisions a diversified revenue stream by offering equipment for wave energy power supply, Operations and Maintenance (O&M) services, and consultancy services across the entire value chain. This comprehensive approach aims to maximize asset value, ensure sustained performance, and contribute to the success and sustainability of the venture in the wave energy sector.