FSRPs: Blue Sea Power’s floating solution to the energy crisis faced by Non-Interconnected Islands
Blue Sea Power is an integrated energy solution provider. BSPE focuses on floating power generation units with integrated storage and regasification capabilities. The company deploys projects from the design concept to project execution maximising the best mix of available technologies and optimum mix of fuels for a green energy strategy.
In the face of a formidable global challenge, Blue Sea Power turns to the critical issue of widespread electricity deprivation, spanning regions such as the Middle East and North Africa (MENA), Africa, and the myriad non-interconnected islands scattered across the world. A particularly prevalent case of this has emerged in Greece, where 29 islands find themselves solely dependent on HFO/diesel thermal power plants, with mainland interconnection plans lingering in the distant horizon until 2032-34.
Greece’s Non-Interconnected Islands (NIIs) presently grapple with severe environmental and economic strains. The culprits are high-emission HFO/Diesel plants, sluggish renewable energy integration, and the resulting climatic extremes, manifested through recurrent flooding, fires, and power blackouts.
Blue Sea Power Energy (BSPE) is deploying their innovative solution that takes the shape of floating power barges – Floating Storage Regasification Power Plants (FSRPs) – equipped with integrated Bio-LBM storage, regasification, and power generation facilities. These FSRPs promise a swift deployment, capable of providing base load, auxiliary, and balance services directly to the island or onshore power grid substation/systems.
BSPE’s coastal FSRPs come fully self-contained, with on-board infrastructure like integrated LNG/Bio-LBM storage tanks, power generation facilities, regasification modules, and bunkering loading arms. The design is modular, offering standardized 80MW and 120MW floating power plants tailored to meet the unique electricity requirements of NIIs for both base and peak loads.
Crucially, these FSRPs are engineered with a longstanding design, having a lifespan of 30 years, and beyond mere power generation, they harbor the potential to become local gas and Bio-methane hubs, contributing to the onshore local network and even providing a water supply. LNG/Bio-LBM assumes a central role in the de-carbonization strategy, emerging as a clean and flexible solution that aligns with the EU Taxonomy and RRF/EIB/EBRD standards.
Blue Sea Power’s FSRP vision gains credibility with an endorsement from Lloyd’s Register and the nod from the Greek Regulator RAE. The regulatory green light grants BSPE electricity production licenses for four Greek NIIs in the initial phase, including KOS, LESVOS, CHIOS, and RHODES, aligning with Greece’s 2022 Climate law and Energy Strategic Plan for substantial carbon reduction.
The flexibility of FSRPs proves pivotal, facilitating rapid responses to fluctuations in electricity demand. Their ability to swiftly adjust generation capacity enhances grid stability, ensuring a seamless transition between renewable energy sources and conventional power generation.
Blue Sea Power’s innovative solution answers some pressing socioeconomic issues within the Greek NII’s, providing benefits for locals. Development plans set to unfold in the coming year promise to inject vitality into the local job market, offering a spectrum of employment opportunities during construction, operation, and maintenance phases.
Blue Sea Power Energy, having invested four years in design and permitting, looks ahead to a landmark Financial Investment Decision (FID) in 2024, marking the commencement of barge construction. Operations are slated to commence in 2026, with the efficiency of constructing the barges in a shipyard touted as a more efficient alternative to traditional power plant construction on land.
The future unfolds as a saga of innovation, regulatory endorsement, and socio-economic empowerment through the transformative potential of Blue Sea Power’s FSRP solution.
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