CWE (ASX) Bombora puts $180 M on Wave Farm

Originally posted by Jukes ↑

Bombora appears to keep progressing well without being listed. It must have some deep pocket private backers (as well as ARENA). Lowering the capital cost per MWh is a most important parameter. This also helps CETO credibility even though the principle of operation is completely different.

Juke
Bombora puts $180m capex on wave farm
Published on Business News (https://www.businessnews.com.au)

Fraser Beattie
Tuesday, 13 December, 2016 - 13:47

Renewable technology company Bombora Wave Power [7] says an independent study has confirmed the viability of its first commercial project, a 60-megawatt wave farm in Portugal, which it says will cost $180 million to develop.
Perth-based Bombora announced today the completion of an independent review of its mWave wave farm feasibility study, which confirmed a capital cost of about $3 million per megawatt of installed capacity.
The 60MW wave farm has the potential to deliver 80,000MW hours into the electrical grid per year, and is below Ocean Energy Europe’s cost projections.

“(The independent review) concluded the levelised cost of energy estimates for the first 60MW mWave wave farm range between €17 cents and €33c/kWhr,” the private company said in a statement.
“This compares to Ocean Energy Europe’s cost projections of between €31c and €58c/kWhr for wave farms at the equivalent installed capacity.”
Bombora chief executive [8]Sam Leighton [8] said the independent review confirmed the technical and commercial potential of the company’s mWave technology.
“It clearly indicates that an mWave wave farm can be competitive with other commercially successful renewable, such as offshore wind,” he said.

Bombora’s primary focus will be the construction and installation of a 1.5MW mWave converter early next year.
The $420,000 independent study was supported by $210,000 from the Australian Renewable Energy Agency [9].
Arena chief executive [10]Ivor Frischknecht [10] said it was an exciting time for wave energy as the industry starts to mature.
“Wave power could, in the future, expand our energy options and ultimately build on Arena’s efforts to deliver a reliable, renewable energy future,” he said.
Bombora has previously said it has no plans to list on the ASX.

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I once made an enquiry when Bombora called for investors. The minimum investment was $5000. I didn't follow through with it but I did like the technology.

Others might not agree but I could see their technology being included in very large hybrid projects with other marine energy technologies, maybe even Ceto 6.

If ARENA were to survive, it could be the catalyst for bringing these and other technologies together to consolidate what has been gained from their funding.