Earlier this year, Tocardo signed its first contracts to sell its turbines, which can be installed off shore and in rivers, to clients in Japan and Nepal. It has since signed a dealership agreement to sell its patented technology into Korea, which is among the world’s most promising tidal energy markets, and is pursuing opportunities in Europe and North America.
Over the past few years, Tocardo has moved ahead of many of its peers by fully developing highly efficient water turbines on a smaller scale and at low cost. The turbines have been extensively tested in Dutch coastal waters, paving the way for the building of larger-scale turbines of 500kW, 1MW and more – which can resist more aggressive tidal waters across the globe.
“Our decision to start small is paying off. By starting with smaller turbines that are relatively easy to install and maintain, we are quickly developing this relatively-new source of energy. This is indispensable for tidal energy to become a fully-fledged sector and to give tidal energy a significant place in the renewable energy mix,” says Sander de Block, Tocardo’s commercial director. “We are keen to share our strategy with peers and potential clients in Aberdeen,” he adds.
Competitive with wind power
Tocardo’s technology, which can be compared to “an underwater wind turbine”, is the result of 12 years of R&D. Building on the Netherlands’ long tradition of water engineering, it is simple and reliable. Tocardo inshore turbines produce energy at a cost of €0.11-€0.12 per kWh, which is competitive compared to electricity produced by wind farms. In remote geographical areas Tocardo turbines already produce at same price level, or are actually cheaper than traditional energy. The kWh production price of Tocardo’s offshore turbines is expected to be €0.20-€0.25 per kWh.
Last month, Tocardo signed the deal with the German-Korean corporation Korwind. The company has extensive experience with the South Korean renewable energy market, and a strong track record of building trade links between Korea and Northwest Europe.
“We are excited to enter into this agreement with Korwind, which is not only a specialist in renewable energy and hydro-power, but also has extensive connections in the South Korean market. There is a lot of investment and interesting activity around renewable energy in South Korea, with tidal power beginning to build momentum. We aim to be one of the first to offer proven and commercially viable technology, with Korwind ideally positioned to maximise the opportunity,” comments Hans van Breugel, CEO of Tocardo.
From a geographic and economic point of view, South Korea is one of the world’s most promising countries for the application of tidal energy generation. Through its agreement with Korwind, Tocardo is one of the first to make its turbines commercially available there.
Korwind will use its extensive network of Korean commercial and government relationships to implement the Dutch hydro-power specialist’s pioneering technology. Tocardo has further strengthened its foothold in the country by signing an R&D agreement with Blue Ocean Power to demonstrate the effectiveness of its 1MW tidal turbine, at Saemankeum Barrage. This installation will combine tidal and ocean current power, providing an ideal demonstration of Tocardo’s ultra-efficient turbines.
This is the second dealership agreement signed recently by Tocardo International in Asia. Last month it signed a dealership contract for Japan with Spectol Power Design Co., Ltd. (SPD).
Tocardo entered the renewable energy market with 100 and 200 kW turbines and is also developing a 500 kW and 1 MW offshore turbine.
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