Global OTEC Resources Invites Applications for Purchase of Ocean Thermal Energy in Maldives

Applications are now open for potential off-takers in the Maldives to purchase energy produced by an England-based clean energy systems developer, Global OTEC Resources’, demonstration project.

Ocean thermal energy conversion (OTEC) is an application of solar energy in which the heat that the ocean captures from the sun’s rays is used. It is a technology for transforming some of the energy that the tropical oceans absorb from the sun, first into electricity and then into fuels.

“Global OTEC Resources are offering energy rates comparable with existing diesel infrastructure and potential off-takers will be required to submit a bid for the kWh unit cost they are prepared to pay. The deadline for applications is 31 January 2020,” the firm said in a press release.

The firm added that it will be ready to launch its demonstration OTEC Barge in the Maldives late next year. It already has interest from financiers to build a small-scale OTEC demonstration plant with a capacity rating of 150 KW.

“This scaled-down system could provide local islands, such as Fenfushi, with 100 per cent of its yearly electricity demand. For island resorts, it would provide between 20 per cent to 50 per cent of average energy requirements,” the release added.

Founder and CEO of Global OTEC Resources, Dan Grech, said, “Over the next 10 years, Maldives can become a global centre of excellence for OTEC developments. Maldives will no longer be dependent on costly diesel imports to provide their energy – a renewable revolution is on the way for tropical islands.”