The Democratic Republic of São Tomé and Príncipe has announced a partnership with the UK-based Global OTEC for the deployment of the first commercial floating OTEC platform.
Ocean Thermal Energy Conversion (OTEC) technology is based on converting incoming solar radiation into electricity and is continuously available in almost all ocean locations between the tropics.
The concept of the floating platform is similar to an oil platform, however, the difference is the use of seawater versus drilling the ocean bed.
The project in São Tomé and Príncipe is a public-private partnership between Global OTEC and SIDS DOCK, the Small Island Developing States (SIDS) Sustainable Energy and Climate Resilient Organization and is seen as a key way for the region to reduce the dependence on costly fossil fuels and drive the energy transition.
Prime Minister Bom Jesus noted that the private sector has already invested significant resources in developing the world’s first commercial Floating OTEC Platform, and very shortly, a pre-feasibility study will begin.