Marine energy industry set for kick-off in the Far East

A new partnership between academia and business entities has been established in East Asia under the joint goal of introducing and developing marine energy industry in Taiwan.

Marine power could be a very competitive energy source due to its high energy potential which is much more intensive than that of offshore wind, making it a very suitable green energy source for highly populated harbour cities around the world.

Naturally, if such energy is harvested through sustainable technologies, it could be used for the production of clean power, and other energy-intensive applications such as green hydrogen generation, desalination of ocean water, and cooling of buildings.

This was the rationale that prompted the independent consulting and business support services provider Formosan Business Support (FBS) to sign a letter of interest with National Taiwan Ocean University (NTOU), agreeing to pool their resources and kick-off the development of marine energy industry in Taiwan.

Namely, the parties have expressed intention to form a joint venture interest in Taiwan, whereby FBS’ main task will be to find and implement international technology and know-how in the marine energy sector, while NTOU will help with the local implementation, and will act as the bridge to local academics, authorities, and regulators.

According to the partners, they plan to establish a demonstration site near Keelung port, located in the northeastern part of Taiwan, that would serve for testing of ocean current power, wave energy, ocean thermal energy conversion (OTEC), and floating wind technologies.

Under the three-year agreement, FBS and NTOU will work together to locate other possible sites for further feasibility studies, and will cooperate closely with Taiwan’s Environmental Protection Bureau to only bring long-term sustainable solutions to the country.

“The ultimate goal is for both parties to create an amphibious to 100% self-sustaining maritime island being integrated into its natural maritime environment through technology”, it is stated in the agreement.

FBS and NTOU have declared sole exclusivity to each other regarding this development, and each party will cover their own costs and expenses in respect to establishing the joint venture and running the business, while maintaining their own intellectual property rights.

Taiwan sees renewables as an important route to greater security of its energy supply than is possible through its current heavy reliance on imported fossil fuels.

With around 1500 kilometres of coastline and a sub-tropical environment, Taiwan has set a marine energy power generation target of 200MW installed capacity by 2025, according to information from international energy consultancy Aquatera.