Wind-wave hydrogen production project gets backing from EC’s Innovation Fund
December 11, 2023SEAWORTHY project gets €26 million boost.
The floating wind, wave energy and hydrogen production hybrid project has garnered more support from the EU with a recent €26 million ($28 million) grant agreement signed between Floating Power Plant and the European Commission’s Innovation Fund.
The SEAWORTHY project is expected to mark a key clean power breakthrough.
SEAWROTHY stands for “Sustainable Dispatchable Energy Enabled by Wave-Wind Offshore platforms Onboard Hydrogen”. It is a clean power project from Danish renewable energy developer Floating Power Plant. The project integrates floating wind and wave resources to produce electricity while using excess power for hydrogen production and storage.
It is expected that the SEAWROTHY project will mark a key breakthrough in securing reliable and dispatchable green power offshore that can help to decarbonize regions where it is challenging to lower and eliminate carbon emissions.
The project is located in the Canary Islands off the coast of Las Palmas at the Plocan test site. The plan is to build a commercial-scale demonstration platform that can accommodate a 4.3-megawatt floating wind turbine, 0.8 megawatts of wave energy convertors as well as electrolyzers with hydrogen storage and a fuel cell.
The renewable power and hydrogen production project has previously been supported by the Innovation Fund.
This isn’t the first time the SEAWORTHY project has been backed by the Innovation Fund. Earlier this year (2023), The Innovation Fund provided funding support for both this project and Simply Blue Group’s Saoirse wave energy project.
“The formalization of this grant agreement marks a key moment not just for Floating Power Plant but for the entire renewable energy landscape,” Anders Køhler, the CEO of Floating Power Plant, said of the recent grant agreement signing.
“The signing of this grant agreement is not just a formality – it’s a catalyst for expedited deployment of our technology,” the CEO stated.
Green hydrogen as an export product.
“The EU’s steadfast support underscores the maturity, potential, and viability of our technology. With Seaworthy, we are on the precipice of demonstrating the commercial benefits of integrating wave and wind energy with hydrogen production and storage,” the Køhler added.
Beyond combining the technologies employed via its SEAWORTHY project, Floating Power Plant aims to expand upon these dispatchable, reliable renewable power technologies as they mature. This includes delivering large-scale and cost-effective green H2 as an export product.
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