Galician Magallanes receives energy tariff from UK to install world’s first floating tidal energy park

Spanish technology company Magallanes Renovables, based in Redondela (Pontevedra), has received support from the UK to install what will be the world’s first floating tidal energy complex. The company obtained the energy tariff in Great Britain in the auction called by this country for the production of tidal energy. This rate represents a long-term contract for renewable energy generation companies that guarantees them a fixed price for the electricity produced, which balances the entry of new sources of renewable energy alongside traditional sources such as wind or solar energy. “With the launch of the ATIR 2.0 commercial platform and the support of the UK-led market, Magallanes Renovables is poised to lead the ocean renewable energy revolution,” said Alejandro Marques de Magallanes Crespo, Chief Technology Officer. firm. . “This achievement represents an important step towards a more sustainable and diversified energy future,” added Marques de Magallanes.

New and more efficient design after five years of testing

At the same time, the company announced that its innovative trading platform, known as ATIR 2.0, has received certification from Bureau Veritas, highlighting the efficiency, safety and profitability of its design, stemming from the application of best-in-class solutions in the field of marine and wind energy. Industry to develop a machine capable of overcoming the power of energy hidden in the tidal forces of the oceans. “This important achievement confirms Magallanes Renovables’ commitment to technical excellence and reinforces its position as a leader in the floating tidal energy market,” said Alejandro Márquez de Magallanes. ATIR 2.0 is designed to be profitable in terms of capital costs (CAPEX) and operating costs (OPEX). “By using proven components from the offshore and wind turbine industries, Magallanes Renovables has been able to reduce engineering and construction costs, while ensuring simple and accessible maintenance and repair, thanks to its unique design and easy access to the machinery room, located in 15 Galician origin: “at a depth of meters below sea level.”

Future auctions in Canada and France

Magallanes Renovables has celebrated France’s entry into the UK and Canada by announcing an upcoming auction for the installation of tidal energy parks. This movement reflects the growing international recognition of the potential of tidal energy and underscores the importance of this technology in the transition towards a more sustainable, clean and respectful energy future for the marine ecosystem.

About Magallanes Renovables

Founded in 2009, Magallanes Renovables has focused its mission on developing energy solutions based on generating electricity by harnessing the tidal power of the oceans through the use of floating platforms equipped with blades that collect the tidal force. In both directions in channels between islands or in bays and other coastal places. In 2019, the ATIR platform, which is 45 meters long and 15 meters deep, began testing off the coast of Great Britain and successfully generated electricity by connecting to the Scottish electricity grid. In 2022, Magallanes Renovables obtained a license, through a fixed-price auction called by the United Kingdom, to install a tidal energy complex that will allow four platforms to generate and trade energy obtained from the sea starting next year 2026.

About tidal energy

Currents and tides are produced from the constant gravitational force exerted by the Moon and Sun on the Earth’s rotation. Tidal energy has great potential and can produce 16% of the world’s energy needs. It is 100% predictable compared to other renewable energy sources, which would give access to about 390 GW with capacity factors ranging from 40% to 50%, compared to wind energy, for example, which had an average capacity factor in 2021. By 25.1%. (Total installed power versus power actually obtained). Therefore, it has a high density of clean and renewable energy.

(marks for translation) Magallanes

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