The FloTEC project has five core objectives designed to be commercially focussed, highly innovative and ambitious while also clear and measurable, enabling project success to be benchmarked:
- Demonstrate a full-scale production model floating tidal energy generation system.
- Reduce the LCoE of floating tidal energy to an industry leading < €200/MWh, through innovative whole-lifecycle cost reductions.
- Develop high quality, low cost composite blades for commercial units.
- Develop full scale mooring dampers to reduce peak wave loads.
- Progress tidal energy towards maturity and standard project financing by:
- Reducing cost and risk;
- Improving reliability;
- Developing an advanced financing plan for first arrays.