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Evaluating a project for wave energy generation at a coastal site in Chile


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Based on a methodology that analyses technical, economic, environmental and social variables, 4 potential scenarios were defined up until the year 2040 for a wave energy project in two locations in Chile: Valparaiso and Chiloe Island. The analysis identified the Oyster device to be more affordable WEC for both projects. Under the best case scenario the Chiloe project could reach feasibility in the short term by 2020 while Valparaiso would take until 2040, both with an IRR over 12% and considering a base market price. The projects could reach feasibility at an even earlier date if an energy price subsidy were to be introduced. The limitation of the work is discussed as an important component for the projections, due to the high level of variability associated to the early development stage of elements available for its estimations.
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Conference Paper
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