Seatricity

Seatricity's aim is to demonstrate that renewable energy doesn’t have to be an expensive, heavily subsidised replacement for fossil fuels. They anticipate that every megawatt of wave device capacity will cost less than £2.5 million for equipment and installation costs with an estimated life cycle of 20 years. This compares very favourably with wind turbine power generation where a standard offshore turbine will cost around 3 million per megawatt and has an operating efficiency (capacity factor) considerably less than that achieved by the Seatricity wave devices. The modular nature of their design enhances resilience and reduces the cost and complexity of maintenance.