Magallanes expands its tidal energy project with two new contracts.
Two new contracts awarded to Magallanes Renovables in Wales and Scotland. When night falls and the wind subsides, solar and wind energies decline. It is one of the main factors favoring tidal energy, but not the only one. Its lower visual impact gives it a privileged position in the field of renewables. ‘It is clearly the energy of the future,’ declares Alejandro Marques, CEO of Magallanes Renovables, the Galician company created in 2009 to harness the power of tides.
In 2009, the dream of Marques’ father began to come true. Adriano Marques de Magallanes sensed the enormous possibilities arising from energy obtained from the periodic changes in sea level. His tenacity allowed him to enter a field where giants like Rolls-Royce and Siemens operated. ‘They were very expensive systems with complex maintenance because the devices had to be periodically removed from the water.’ The Galician company devised a more economical and simple model. Now, Magallanes is among the select group of leading tidal energy companies.
According to estimates from the International Energy Agency, the global potential of tides is around 1.2 million megawatts per year, 7.5% of the world’s total energy. Therefore, these agreements are long-term contracts designed to support renewable energy programs.
The Galician company devised a more economical and simple model, involving hanging the rotors from a large floating barge anchored to the seabed. Now, Magallanes is among the select group of leading tidal energy companies. They provide a fixed tariff for 15 years, offering essential support and stability for innovative projects.