The new JV is called Race Tidal Ltd and the formal agreement to create the new company took place at a signing event held at Thetis Marine Renewable Energy conference in Cherbourg last week.
Alderney is one of the Channel Islands and its territorial waters contain one of the world’s largest tidal energy resources which could potentially power an estimated 1.5 million homes. OpenHydro and ARE will be developing a tidal array incorporating 150 2MW turbines able to generate enough power for over 150,000 homes. An interconnector is being built between France, Alderney and the UK by FAB Link Limited, a JV between ARE and Transmission Investment LLP. This link will enable the power generated by the array to be exported to European markets as well as allowing it to be traded between France and Britain. Development of the interconnector is proceeding in conjunction with French grid operator RTE.
ARE and OpenHydro have been working together for some time and therefore have a long established relationship. The development of the new array is being conducted under a 65 year license from the States of Alderney permitting, secured by ARE in 2008, which permits the company to develop marine renewable energy projects in Alderney’s waters. OpenHydro will provide the turbines which will be manufactured in Cherbourg (France) in an industrial site which will also support future tidal energy farms off the French coast.
Over the next three years, the partners will be working closely with The States of Alderney, the Alderney Commission for Renewable Energy, local communities and stakeholders to complete the required surveys and environmental impact assessments prior to making an application for full consent. The 300MW tidal array is expected to reach full scale deployment from 2020 which will coincide with the commissioning of the FAB interconnector.
“Our initial agreement with ARE which dates back to 2007 has been a strategic part of our site development business plan” said Thierry Kalanquin, chairman of OpenHydro, who is also DCNS Senior Vice President Energies and Marine Infrastructure. “The joint venture that we have signed today with ARE will now ensure the development of a 300MW tidal array in Alderney waters.”
Nick Horler, executive chairman of ARE, added that the development of Alderney’s tidal power projects will provide Europe with a new source of predictable, clean, renewable energy and improve the security of our energy supplies. The JV with OpenHydro will help the company to make significant progress towards creating one of the largest renewable energy projects in European coastal waters.
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