ocean energy

Seabased and the BIDC Sign MOU For Wave Power Park To Fuel Green Hydrogen Production

The Barbados Investment and Development Corporation (BIDC) and Seabased Group have signed a memorandum of understanding to build a wave power park as part of Barbados' effort to advance green hydrogen research and development. Barbados aims to be the leading Caribbean entity driving the green hydrogen transition
Seabased and the BIDC Sign MOU For Wave Power Park To Fuel Green Hydrogen Production
Courtesy of Seabased

The MOU, signed on June 7, 2024, outlines the establishment of a 2 megawatt (MW) pilot wave power park, which will be expanded to 10MW or more. It will serve as input to the BIDC's green hydrogen facility.

Mark Hill, CEO of BIDC, said, "Barbados takes a very proactive approach to seeking out innovative solutions that will drive the energy transitions for islands like ours. We have to think not only about the land Barbadians inhabit, but the vast expanse of ocean surrounding Barbados, maximizing the potential to sustainably harness the blue resources within our Exclusive Economic Zone. In order to green our industrial operations nationally we need to think innovatively."

Hill continued, "Seabased's technology impressed us in that they have worked to ensure their solution is not only durable but also sustainable, thus delivering innovative solutions to de-carbonize sectors within the blue economy currently heavily reliant on heavy fossil fuels. The BIDC is prioritizing the provision of sustainable base-load electrical energy at a reduced cost to advance its industrial green hydrogen research and development via scientific innovation in wave technology. Water and adequate cheap renewable energy are key input elements necessary for the production of green hydrogen and its derivatives."

Barbados, like other Caribbean islands, is almost entirely dependent on imported fossil fuels for its energy needs. Islands face climate risks such as rising sea levels and increasingly frequent and intense storms and hurricanes. Barbados' economy is also not shielded from geopolitical and logistical threats to its national fuel supply and energy production.

It is imperative that Small Island Developing States (SIDS) diversify their energy mix. Barbados has demonstrated an intent at COP 28 in the UAE, and also at SIDS4 in Antigua, to take national responsibility to lead the transition to ocean energy from fossil fuel dependence.

In addition to the ocean being islands' most accessible form of energy, waves operate 24/7, 365 days a year, which means they're an excellent renewable power source that can also help maintain a stable grid.

According to Seabased CEO Laurent Albert,"Seabased and BIDC have identified an area where we believe we can harvest a considerable amount of reliable, renewable, clean ocean energy without hindering any of the other industries—including tourism— that are so important to Barbados. Islands like Barbados are unique harbors of beauty and biodiversity and we want to be part of helping them provide for their energy needs in a way that will help protect that very special ecosystem in their blue and green economies."

BIDC and Seabased will collaborate to amplify bold and innovative blue economy development for Barbados. Green hydrogen is considered one of the most promising fuels for greenhouse gas (GHG) emissions reduction in hard-to-abate sectors such as maritime shipping. It is created by using an electrolyzer to separate the hydrogen and oxygen molecules in water. When used in a fuel cell, the only waste it produces is water. Making hydrogen has historically been energy intense and, when powered by fossil fuels, ineffective at reducing emissions and reducing the carbon footprint of industrial operations. But when powered by renewable energy, such as ocean waves, it is a clean alternative to fossil fuels.

 

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