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SME, Minas Tidal to develop 9-MW project in Nova Scotia

SME’s PLAT-I floating in-stream tidal energy platform. Source: SME

October 1 (Renewables Now) - Sustainable Marine Energy (SME) and Minas Tidal LP (MTLP) plan an up to 9-MW tidal energy project at the Fundy Ocean Research Center for Energy (FORCE) in Nova Scotia, Canada.

The two parties have agreed to co-develop their adjacent berths at the FORCE, utilising SME’s PLAT-I floating in-stream tidal energy technology. Their collaboration will be known as the Pempa’q In-stream Tidal Energy Project, to be delivered in phases beginning with a 1.26-MW system that will be deployed next year. The Phase 1 project will comprise three next generation PLAT-I platforms, each with a capacity of up to 420 kW.

SME, whose largest shareholder is Germany-based Schottel Group, built and tested the first PLAT-I demonstrator in Scotland and then performed testing in Nova Scotia, as well. The firm noted that its Canadian unit recently won a licence from the Nova Scotia Department of Energy and Mines (NSDEM) that enables selling electricity generated by the platform to Nova Scotia Power via a power purchase agreement (PPA).

“We have scrutinised SME’s next generation design; they have adapted their system to deal with the conditions present at FORCE and have increased the rated output by 50% with only a small increase in the size of the platform. This makes us very optimistic about the commercial potential of their approach,” commented Mark Savory, president of MTLP.

This first phase of the Pempa’q In-stream Tidal Energy Project will be financed by German asset manager Reconcept Group, which has been providing advice on the project and is establishing a capital fund specifically for this purpose. The Hamburg-based firm plans to support future phases as well.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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