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Magallanes expands its ocean energy project

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Magallanes expands its ocean energy project with two new contracts.

“It is clearly the energy of the future,” says Alejandro Marqués, CEO of Magallanes Renovables, the Galician company created in 2009 to harness ocean energy. Two new contracts awarded to Magallanes Renovables in Wales and Scotland. When night falls and the wind dies down, solar and wind power diminishes. It is one of the main factors favouring ocean energy, but not the only one. Its lower visual impact gives it a privileged position in the field of renewables.

In 2009, the dream of Marques’ father began to come true. Adriano Marques de Magallanes sensed the enormous possibilities arising from the energy obtained from periodic changes in sea level. His tenacity allowed him to enter a field where giants such as Rolls-Royce and Siemens were operating. “These systems were very expensive and complex to maintain because the devices had to be periodically removed from the water. The Galician company came up with a cheaper and simpler model. Magallanes is now among the select group of leading companies in tidal energy.

According to estimates by the International Energy Agency, the global tidal potential is around 1.2 million megawatts per year, 7.5% of the world’s total energy. These agreements are therefore long-term contracts designed to support renewable energy programmes.

The Galician company came up with a cheaper and simpler model of hanging the rotors from a large floating barge anchored to the seabed. Magallanes is now among a select group of leading tidal energy companies. They provide a fixed tariff for 15 years, offering essential support and stability for innovative projects.