An Irish-Singaporean joint venture is to develop a multi-turbine tidal array in Nova Scotia, Canada.
Singapore-headquartered tidal developer Atlantis and Irish renewables firm DP Energy formed a partnership for the scheme at the Fundy Ocean Research Centre for Energy (Force) in the Bay of Fundy.
The deal will see DP Energy acquire a 50% stake in Atlantis Operations Canada, the leaseholder of a berth at the Force facility that was awarded a 4.5MW feed-in-tariff by the Nova Scotia Department of Energy in December 2014.
The companies said that financing and front end engineering design for the project was expected to be completed next year, with an anticipated start date for construction offshore in 2017.
It is anticipated that the array will include AR1500 turbines from Atlantis’ turbine division.
Atlantis chief executive Tim Cornelius said: “We are delighted to be partnering with DP Energy to develop tidal power projects in Nova Scotia. We have now created a project development platform that the local supply chain can invest in with confidence.
“Coupled with the unwavering support of the Nova Scotian Department of Energy and the leadership of Force, Atlantis Operations Canada will be an attractive investment proposition for project financers looking to make use of the feed-in-tariffs available for tidal stream projects in the province.”
DP Energy chief executive Simon De Pietro said: “Tidal power has the capability to become a major source of renewable electricity production globally and we are eager to take on the exciting challenges provided by the tidal resource in the Bay of Fundy.”