Life cycle and economic assessment of tidal energy farms in early design phases: Application to a second-generation tidal device

Ocean currents are emerging as key contributors to renewable energy generation. However, technologies for harvesting tidal current energy are still in the early stages of development. In this context, environmental and economic studies on tidal energy converters (TECs) are crucial to further advance tidal technology and facilitate its entry into the market. This article presents a life cycle and economic assessment of a 34.5 MW tidal farm project comprising 23 second-generation tidal devices, each with a rated power of 1.5 MW. The tidal system was simulated using primary data from the full-scale floating platform Atir. The Atir is a pre-commercial tidal device designed with a steel trimaran and a submerged section for TEC installation. An assessment of 18 environmental impact categories was conducted using the ReCiPe 2016 MidPoint method, with process flow systems modelled using SimaPro v9.2.0.1 software. The environmental assessment indicates emissions of 42.11 g CO2eq per kWh, primarily stemming from manufacturing processes that demand substantial amounts of steel. The economic analysis reveals a Levelized Cost of Electricity (LCOE) of 0.125 EUR/kWh, consistent with European Commission projections. Although the platform structure represents a high initial investment, the lower maintenance costs of the Atir device provide long-term savings and, overall, result in a competitive LCOE. The study also introduces a methodological framework for harmonised environmental and economic assessments in tidal energy projects, proving crucial in supporting decision-making processes.