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The concept is the brainchild of inventor Dominic Michaelis. He was originally unsatisfied with the slow progress in developing ocean thermal energy conversion (OTEC), a process in which cold water is pumped up from the deep ocean to generate electricity.

"Nothing new was happening with OTEC, so I thought why not bring other marine energy technologies on board?" Michaelis said.

The Energy Island that he and his son have designed would have an OTEC plant at its center, but spread across the 2,000-foot-wide (600-meter-wide) platform would also be wind turbines and solar collectors. Additionally, wave energy converters and sea current turbines would capture energy from water moving around the structure.

One of these hexagonally-shaped islands could generate 250 megawatts (enough power for a small city), Michaelis said. Even more power is possible by mooring together several Energy Islands into a small archipelago that could include greenhouses for food, a small harbor for ships and a hotel for tourists.

To attract possible investors, the Energy Island team will present their concept this week at the U.S. China GreenTech Summit in Shanghai.