The results show that:
• None of the design concept shows financial viability according to their NPVs, as
all of them result negative.
• Additionally, both designs involve important investments, so their NPVs are
negative in a huge dimension, especially when compared with TROPOS designs.
• The results obtained for Mermaid design concepts include in their revenue
calculation an important feed-in tariff added to the price of electricity. When or
if this subsidy disappears, NPV results will be even more negative. In contrast,
any change in policy that rises feed-in tariffs may reinforce the project
profitability.
The levelised costs of production for each sector are presented in Table 3.10.
3.6.3 H2Ocean Commercial Viability
For the case of H2Ocean project, a special situation was presented: project deliverables stated the impossible viability of the proposed design. Under their parameter
assumptions, the final NPV of the project was 21.6 billion € negative. To allow for a
consistent comparison, the results for the joint financial analysis under the proposed
values of the parameters are presented here. However, due to the high negative value
of the NPV obtained, no further analysis will be performed with this input, nor
comparison with the rest of the Oceans of Tomorrow projects (Table 3.11).
Table 3.10 Levelised costs of production for MERMAID design concepts
Design
Unit
Production (units/year)
LCoP (€/unit)
Atlantic Site
Wind energy
MWh
776,930
264
Wave energy
MWh
110,110
1119
North Sea Site
Wind energy
MWh
2,600,000
169.51
Mussels
Tons of mussels
48,000
739.51
Seaweed
Tons of seaweed
480,000
174.23
Table 3.11 Results from the financial analysis of H2Ocean concept design
Design
CAPEX (€
million)
OPEX (€
million/year)
Revenues (€
million/year)
NPV (€
million
Internal rate
of return
Portugal
Site
À11902.13
À455.56
89.70
À16558.42 –
Fish
À3685.38
À166.39
55.85
À5103.76 –
Water
À3328.01
À144.59
0.10
À5022.12 –
Hydrogen/
oxygen
À4888.74
À144.59
33.75
À6432.55 –
3 Comparative Financial Analysis of Marine Multipurpose Platforms Projects. . .
53
• None of the design concept shows financial viability according to their NPVs, as
all of them result negative.
• Additionally, both designs involve important investments, so their NPVs are
negative in a huge dimension, especially when compared with TROPOS designs.
• The results obtained for Mermaid design concepts include in their revenue
calculation an important feed-in tariff added to the price of electricity. When or
if this subsidy disappears, NPV results will be even more negative. In contrast,
any change in policy that rises feed-in tariffs may reinforce the project
profitability.
The levelised costs of production for each sector are presented in Table 3.10.
3.6.3 H2Ocean Commercial Viability
For the case of H2Ocean project, a special situation was presented: project deliverables stated the impossible viability of the proposed design. Under their parameter
assumptions, the final NPV of the project was 21.6 billion € negative. To allow for a
consistent comparison, the results for the joint financial analysis under the proposed
values of the parameters are presented here. However, due to the high negative value
of the NPV obtained, no further analysis will be performed with this input, nor
comparison with the rest of the Oceans of Tomorrow projects (Table 3.11).
Table 3.10 Levelised costs of production for MERMAID design concepts
Design
Unit
Production (units/year)
LCoP (€/unit)
Atlantic Site
Wind energy
MWh
776,930
264
Wave energy
MWh
110,110
1119
North Sea Site
Wind energy
MWh
2,600,000
169.51
Mussels
Tons of mussels
48,000
739.51
Seaweed
Tons of seaweed
480,000
174.23
Table 3.11 Results from the financial analysis of H2Ocean concept design
Design
CAPEX (€
million)
OPEX (€
million/year)
Revenues (€
million/year)
NPV (€
million
Internal rate
of return
Portugal
Site
À11902.13
À455.56
89.70
À16558.42 –
Fish
À3685.38
À166.39
55.85
À5103.76 –
Water
À3328.01
À144.59
0.10
À5022.12 –
Hydrogen/
oxygen
À4888.74
À144.59
33.75
À6432.55 –
3 Comparative Financial Analysis of Marine Multipurpose Platforms Projects. . .
53