By Myrna M. Velasco
SEOUL, South Korea – With trepidation over climate change risks, the charted path toward the world’s energy future conjures shift to cleaner energy options -- and it invariably factors in renewable energy (RE) into the equation.
Various countries gear up for multi-speed races into turning their energy sector as green as possible, but the envisioned precipice of fossil fuels in the mix appeared harder-to- achieve than imagined.
Energy planners are, by far, not politically naïve at realities that the development of RE sources would still take long lead time, hence, they can’t thrive as solution to short- or even medium-term energy demand.
Even with all that incentive-stuffing in RE policy frameworks, investment flows in the sector remain negligible. Suffice it to say that despite ‘loud talks’ about greenish energy, its sway in the investment domain relatively appears a bare whisper.
Nevertheless, there are countries willing to place their bets on RE – it being considered the inescapable option of the future. Raising hopes on an eventual rapprochement of energy and the environment, the coal-fired and nuclear power-laden South Korean energy market couldn’t be left behind in the coterie of countries embracing the RE investment trajectory.
Exploiting a largely-untapped potential
Technology experiments and project takeoff from drawing boards are evidently widespread for traditional RE sources – from geothermal to hydro, and even wind and solar which are already gaining allure among project sponsors.
In the roster of RE sources though, there is one resource considered largely untapped until now – tidal current (also interchangeably referred to as tidal power) -- perhaps due to technological limitation or high capital cost.
Tidal energy basically involves a process wherein tides are converted into electricity – propelled mainly by interaction of gravitational forces.
In the so-called ‘Land of the Morning Calm’, Korea East-West Power Co. Ltd. (EWP) jumpstarted technology experiments on tidal energy via its helical-type 1.0-megawatt power project along Uldolmok Strait in Dunjeon-ri Gunnae-myeon Jindo-gun Jeollanam-do.
EWP president Gil Gu Lee acknowledged that tidal power projects remain relatively expensive to this date. In fact, his company’s Uldolmok pilot undertaking costs $12 million for the measly one-megawatt capacity – comparatively a hefty sum vis-à-vis investments needed for fossil fuel plants or other energy sources.
“It is very expensive. Without any subsidy, it (tidal power) cannot be economically viable. For the experimental 1.0 MW plant we have, we invested $12 million,” he said.
But Mr. Lee expects economy of scale when they can eventually prove the technology’s viability and would be able to increase EWP’s tidal power capacity to 50 megawatts – in the near future.
As the company sprints ahead in establishing its investment base in the Philippines, EWP’s experience on tidal current technology is something it is very much willing to share with the Philippines when the opportunity for synergy or investment arises.
“The Philippines could be an ideal site for developing tidal power, it has very many straits that are potential for development,” the EWP chief executive said.
The function of technology
The Uldolmok tidal energy experiment, Mr Lee proudly claims, is a technology showcase for his country, albeit he cautioned that it is still at its ‘infancy’. To position it as a clear winner in the field or even bring it to commercial scale is still a formidable challenge that the company has to reckon with.
The technology application employed in the project was set into fore with aid from the research center of South Korea’s Marine Department. It entails construction of jacket-type structure on-land which was then fixed onto a rock bed in the water that is linked to a power generation facility.
It was explained that the Uldolmok project employs tidal stream generator which no longer needs a dam in processing tidal currents to produce electric power. This then makes the technology more eco-friendly, primarily to marine life.
“The Uldolmok pilot project holds the promise to become one of the largest projects of its type in the world and one that may utilize most advanced technologies in the field,” the company noted.
Overall prospects on RE’s future
Nowadays, news on the energy front is dominated by ‘green option tinge’ – especially with the on-going Copenhagen debates that may crystallize a new global climate change treaty.
The fanfare over clean energy and environment-friendly technology applications appears endless that many countries have already been prompted to formalize, and in many cases even set through legislation, their respective RE and ‘clean tech’ policy agendas.
The Philippines was among those that joined the global ‘green energy bandwagon’. The passage of its Renewable Energy Law has drawn cheers, and it became an instant attention-drawer for project prospects long-desired by both local and foreign investors.
“The Philippines provides attractive incentives, especially for renewable energy. If we have opportunities, we will look with utmost priority at the Philippines,” Mr. Lee said.
The planned investment tie-up for wind farm projects, and may also eventually cover mini-hydro projects, with local firm Alternergy Philippines Holdings Corporation is just the starting point, the Korean firm assures.
Asked on probabilities that the RE investment pathway of the Philippines may disappoint, Mr. Lee opined there was nary a chance for failure if policies are set right and implemented efficiently.
He noted though that RE as an option may be a realization 10 years or more down the road. Yet while traversing the transition phase, Mr. Lee noted it is crucial that the policies such as the propounded feed-in-tariff (FiT), net metering, renewable portfolio standard (RPS) and the measures on integration of intermittent RE sources into the grid be dealt with resolutely to ensure unremitting investment influx for the sector.
That way, the bid for realistic competitive pricing for RE sources will thrive and the pernicious dilemma of toxic emissions from energy sources can be truly addressed. ###
