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ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

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Page 1: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •
Page 2: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

ATLANTIS RESOURCES CORPORATION SIEMENS MCT

ALSTOM TGL

VOITH HYDRO

SCHOTTEL TIDALSTREAM

TIDAL ENERGY LIMITED

MEYGEN

KAWASAKI HEAVY INDUSTRIES

GDF-SUEZ

MINESTO

BAUER RENEWABLES

AQUANTIS

HYDROQUEST

SABELLA

Mojo Maritime & Tidal Energy Marine Operations – Project History

Page 3: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

Offshore Wind – mature technology, cost-reduction focused;

Tidal Energy – maturing technology, focused on commercialisation at array scale

Wave Energy – nascent technology, focused on commercial R&D and pilot array scale

Ocean Current – immature technology, but with opportunity for rapid development leveraging on tidal energy;

Page 4: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •
Page 5: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •
Page 6: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

• CAPEX (BOP) – Balance of Plant • Foundations • Cables • Sub Stations

• CAPEX (Install) – Installation Costs: • Vessel Charter Rates & Performance • Role Equipment Charter Rates & Performance, e.g.:

• Drills • ROVs

• Project Yield: • Foundation Design • Array Design • Installation Speed

Page 7: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

• CAPEX (BOP) – Balance of Plant • Foundations • Cables • Sub Stations

• CAPEX (Install) – Installation Costs: • Vessel Charter Rates & Performance • Role Equipment Charter Rates & Performance, e.g.:

• Drills • ROVs

• Project Yield: • Foundation Design • Array Design • Installation Speed

Page 8: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

Marine Operations Theoretical Case Study

• Theoretical Large Scale Array: • 50 turbines

• 75MW Installed Capacity

• Challenging High Energy Site

• Input Variables - Balance of Plant: • Gravity Base v Monopiles

• Sub Stations & Cabling Strategy

• Input Variables - Vessel: • Jack Up Barge

• Conventional OCV

• High Performance OCV

• Input Variables - Equipment: • Drill?

• Conventional ROV

• High Performance ROV

• Outputs Variables: • Time, Cost, Yield

Page 9: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •
Page 10: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •
Page 11: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •
Page 12: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •
Page 13: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •
Page 14: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •
Page 15: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

Marine Operations Simulation Software:

Applications

Page 16: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

Marine Operations Simulation Software:

Applications

Page 17: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

MERMAID

The Simulation Algorithms

first, task-analyse the

marine operation and

MetOcean task limits;

second, simulate the

whole operation against

site-specific MetOcean

hind-cast data;

third, interrogate results to

understand and minimize

project and site specific

operational time, cost &

risk

Marine Operations R&D Using Simulation

Page 18: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •
Page 19: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

• Moored: • Easy O&M Access

• Ideal water column depth

• Low Area Power Extraction Efficiency

• Navigational Interference

• Gravity Base: • Potential Speed of Installation

• High Unit Cost @ 1400 tonnes per iMW

• Bottom Preparation & Verticality

• High Underwater Drag

• Monopile: • Low unit costs @ 120 tonnes per iMW

• Drill time

• Low Underwater Drag

• Simplicity

Variable I – Foundation Choice: Moored v Gravity Base v Monopile

Page 20: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

• Moored: • Easy O&M Access

• Ideal water column depth

• Low Area Power Extraction Efficiency

• Navigational Interference

• Gravity Base: • Potential Speed of Installation

• High Unit Cost @ 1400 tonnes per iMW

• Bottom Preparation & Verticality

• High Underwater Drag

• Monopile: • Low unit costs @ 120 tonnes per iMW

• Drill time

• Low Underwater Drag

• Simplicity

Variable I – Foundation Choice: Moored v Gravity Base v Monopile

Page 21: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

• Jack Up Barges: • Potential Stability/VIV issues

• Weather & Depth Limited

• Operations in High Energy High Density Site

• Charter = Expensive day rates

• Conventional OCV: • 90m LOA & 900m2 Deck Space

• 2ms-1 DP Performance

• 400 tonne AHC Crane & Deep Water Capability

• Charter = £29K to £125K

• High Performance OCV: • 5ms-1 DP Capability

• 850-900 m2 Deck Space

• 250 tonne AHC Crane & Shallow Water Capability

• Charter = £35K-£55K

Variable II – Vessel Choice: Jack Up v Conventional OCV – High Performance OCV

Page 22: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

• Jack Up Barges: • Potential Stability/VIV issues

• Weather & Depth Limited

• Operations in High Energy High Density Site

• Charter = Expensive day rates

• Conventional OCV: • 90m LOA & 900m2 Deck Space

• 2ms-1 DP Performance

• 400 tonne AHC Crane & Deep Water Capability

• Charter = £29K to £125K

• High Performance OCV: • 5ms-1 DP Capability

• 850-900 m2 Deck Space

• 250 tonne AHC Crane & Shallow Water Capability

• Charter = £35K-£55K

Variable II – Vessel Choice: Jack Up v Conventional OCV – High Performance OCV

Page 23: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

-5

0

5 TIDAL CURRENT (m/s)

0

1

2

3WAVE HEIGHT (Hs, m)

0

5

10

15

20 WIND SPEED (m/s)

£0

£2

£4

£6

£8

£10CUMULATIVE COST OF n FOUNDATION INSTALLATION (£m)

EXISTING DP OCV

FUTURE VESSEL

Page 24: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

• Conventional ROV: • Tested and cost-effective technology

• 1.0 ms-1 UW Performance

• Deep Water Capability

• Charter = £4-5K

• High Performance ROV: • Novel & untested technology

• 2.0+ ms-1 UW Performance

• Cost Unknown

• Charter = £4-8K

Variable III – Equipment Choice: Conventional ROV v High Performance ROV

Page 25: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

Variable III – Equipment Choice: Conventional ROV v High Performance ROV

Page 26: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •
Page 27: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

Mermaid Analysis: Operational Task Flow

Page 28: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

Mermaid Analysis: Mermaid Live

Page 29: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •
Page 30: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

Mermaid Results: Max - Initial Runs - 10 Nov 16

Vessel ROV UnweatheredMin P10 P25 Median P75 P90 Max

Siem Daya WR200 – 1.0 m/s 262.33 951.6 1007.25 1036.44 1204.94 1243.03 1271.75 1316.36

HF4 WR200 – 1.0 m/s 262.33 845.82 887.29 911.8 1013.41 1067.4 1088.11 1125.39

HF4 UCV – 2.0 m/s 262.33 477.2 493.56 512.22 537.36 556.98 580.66 611.65

HF4 MM 1a – 2.7 m/s 262.33 469.87 487.09 503.44 531.22 549.91 572.84 611.65

HF4 MM 1b – 3.1 m/s 262.33 469.87 487.09 503.35 531.22 549.91 572.84 611.65

HF4 MM 2 – 4.4 m/s 262.33 469.87 487.09 503.35 531.22 549.91 572.84 611.65

Max - Sensitivity Runs - 14 Nov 16

Vessel ROV Speed (ms-1) Unweathered Min P10 P25 Median P75 P90 Max

Siem Daya - WR200 1.00 262.33 951.6 1007.25 1036.44 1204.94 1243.03 1271.75 1316.36

Siem Daya - UCV 2.00 262.33 788.24 826.12 866.43 1007.01 1042.87 1059.66 1090.24

Siem Daya - MM1a 2.70 262.33 787.97 826.04 864.78 1005.95 1038.63 1059.59 1090.1

Siem Daya - MM1b 3.10 262.33 787.97 826.04 864.78 1005.95 1038.63 1059.59 1090.1

Siem Daya - MM1c 4.40 262.33 787.97 826.04 864.78 1005.95 1038.63 1059.59 1090.1

HF4 - WR200 1.00 262.33 845.82 887.29 911.8 1013.41 1067.4 1088.11 1125.39

HF4 - UCV 2.00 262.33 477.2 493.56 512.22 537.36 556.98 580.66 611.65

HF4 - MM1a 2.70 262.33 469.87 487.09 503.44 531.22 549.91 572.84 611.65

HF4 - MM1b 3.10 262.33 469.87 487.09 503.35 531.22 549.91 572.84 611.65

HF4 - MM1c 4.40 262.33 469.87 487.09 503.35 531.22 549.91 572.84 611.65

• Discussion Points: • Impact of HF-ROV @ 2.0ms-1

• Impact of HF4

• Lack of Improvement above 2.7ms-1

Page 31: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

Mermaid Results:

75MW Installation Median Durations in Days Comparisons

Project Phase HF4 + HF-ROV % Project Time Siem Daya + HF-ROV% Time Task Improvement

Foundation Unweathered Foundation Install 141.8 26.7% 262.3 26.1%

Median Weather Impact 125.0 23.5% 433.1 43.1%

Sub Total 266.8 50.2% 695.4 69.1% 61.6%

Sub Stations Unweathered Substation Install 3.4 0.6% 3.4 0.3%

Median Weather Impact 0.6 0.1% 1.5 0.1%

Sub Total 4.0 0.8% 4.9 0.5% 18.5%

Export Cables Unweathered Ex Cable Install 15.2 5.8% 15.2 1.8%

Median Weather Impact 2.6 1.0% 20.9 2.5%

Sub Total 17.7 3.3% 36.0 3.6% 50.8%

Nacelle Unweathered Nacelle Install 106.1 20.0% 106.1 10.5%

Median Weather Impact 136.6 25.7% 163.5 16.3%

Sub Total 242.7 45.7% 269.6 26.8% 10.0%

Total Total 531.2 100.0% 1006.0 100.0%

MetOcean Downtime 264.76 49.8% 619.0 61.5%

• Discussion Points: • Foundation Time

• Nacelle Time

• Weather Downtime

Page 32: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

Mermaid Results: ROV Performance Impact

Page 33: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

Mermaid Results:

Installation Cost Comparision - OCV v HF4 - ROV Variants

OCV OCV & HF4 - 1.0ms-1 OCV-WR200 v HF4-WR200

OCV Assumed Day Rate 29,000£ 29,000£

ROV Assumed Day Rate 4,000£ 4,000£

Drill Spread Assumed Total Day Rate 26,597£ 26,597£

Total Day Rate 59,597£ 59,597£

Median Project Days 1205 1,205

Total Charter Costs 71,810,207£ 71,813,783£

HF4

HF4 Assumed Day Rate 35,000£ 35,000£

HF-ROV 4,000£ 8,000£

Drill Spread Assumed Total Day Rate 26,597£ 26,597£

Total Day Rate 65,597£ 69,597£

Median Project Days 1013 531£

Total Charter Costs 66,476,149£ 36,955,742£

HF4 - CAPEX Installation Saving 5,334,058£ 34,858,041£

Load Factor Yield Comparison

Yield Factors

Array Size - iMW 75 75

Assumed Load Factor 59.0% 0.59

HF4 Charter Days Saved 192 674

Strike Price - Up to 30 MW 30 305£ 24,815,393£ 30 87,326,136£

Strike Price - Above 30MW 45 100£ 12,204,292£ 45 42,947,280.00£

HF4 - Early Yield Delivered 37,019,685£ 130,273,416£

Net HF4 Financial Benefit

Installation Cost Benefit 5,334,058£ 34,858,041£

Early Yield Benefit 37,019,685£ 130,273,416£

Net Early Years Benefit 42,353,742£ 165,131,457£

Page 34: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •
Page 35: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

£-

£50,000,000

£100,000,000

£150,000,000

£200,000,000

£250,000,000

£300,000,000

InstallationPrice

Early YieldNet HF4Benefit

HF4

OCV

HF4 v OCV yield & net benefits:

• yield – 3.1 years at UK strike prices = £154M gained.

• net benefit = installation savings & early yield = £265M.

Economic Results:

Mermaid Modelling – Levelised Cost of Energy

Page 36: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

Economic Results:

Page 37: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

• Low cost due to vessel capability not low charter rate

Sensitivity Modelling - LCOE

Economic Results:

Page 38: ATLANTIS RESOURCES CORPORATION - Events · 2016-12-08 · Marine Operations Theoretical Case Study • Theoretical Large Scale Array: • 50 turbines • 75MW Installed Capacity •

• CAPEX (BOP) – Balance of Plant • Foundations • Cables • Sub Stations

• CAPEX (Install) – Installation Costs: • Vessel Charter Rates & Performance • Role Equipment Charter Rates & Performance, e.g.:

• Drills • ROVs

• Project Yield: • Foundation Design • Array Design • Installation Speed