Milestones

Concept

Circular Energy operates an innovative integration model between offshore gas fields and offshore wind parks. The company is making this happen by subsequently upstreaming gas from natural gas reserves, directly produce power from the gas offshore and bringing the power to shore by plugging-in a power export cable on the nearest windfarm infrastructure. This operational model holds several benefits compared to a traditional gas development scheme. 

  • First, by producing the power on the offshore platform it is possible to split of the CO2 molecules which normally would be emitted after combustion, capture these and inject them back in the gas field below. After all, we are situated on top of a producing gasfield which grows more empty by the day and therefore allows this parallel CO2-injection. This activity proudly delivers us a very efficient way of producing green electricity from natural gas resources.
  • Secondly, by producing power by means of a flexible powerplant which easily switches on and off we can compensate the grid for the intermittence of wind. This is known as ‘load following’ and means in practice that we will be producing during low-wind conditions and shift down during high-wind conditions. This provides the much-needed flexible layer to energy markets with a growing share of renewables.
  • And third, our gas developments are fully independent of existing gas infrastructure (pipelines) as potential target fields no longer have to be located in reach of a gas pipeline as the continental shelf is re-mapped based on export route tie-ins of offshore wind farms with in a <70 KM radius.

Milestones

The company is in advanced stages of finalizing its technological concept and is parallel working on a gas first field development plan. After finishing the  surface/subsurface working packages together with our syndicate partners TNO/Siemens/PZEM/eRiskGroup, a definitive capital round (deadline mid-2018) and a construction period (deadline mid-19) the project will become operational and cash generating by Q1-20. 

Deliverables

  • Full facilitation of a first of a kind 175MWe Zero Emission Power Plant, featuring: Up to >640kton CO2 per year offshore CCS, with a capture efficiency >90%,  with technical and economic optimized design for optimized Return on Investment (RoI) for investors.
  • Production of approximately 1,2 TWh/year of clean electricity which will provide almost 300.000 households with their clean electricity  demand to a normal competitive rate.
  • Spin-off opportunities/scalability. Worldwide economies are scaling up their offshore wind programs which opens opportunities for integration models with fossils. Furthermore, our patented technology can be applied on different emitter/storage combinations like tail-end production or empty gas fields and prolonging life for assets due for decommissioning.