Abstract
As the tidal sector progresses, more devices are proposed to harness the energy of water currents. However, the technical and economical viability of these new concepts needs to be assessed in order to support their development. In this paper, following from the previous simulationaided development of a tidal concept, the authors provide an updated assessment considering a floating version of the tidal device. The typical issues encountered by offshore contractors are described, and guidelines for costs and risk minimisation provided. Lifecycle O&M costs are used as a top driver for the development of the project and considerations for the integration of another energy vector, i.e. hydrogen, are provided. The operational assessment is achieved by means of a verified and calibrated modelling tool, based on Monte Carlo simulation able to support the decision-making process and management of the assets. The role of computational tools to improve the profitability of the project while ensuring satisfactory levels of availability and reliability is highlighted, and the specific adjustments implemented to capture the dynamics of floating tidal devices with energy production capabilities discussed.