UK tidal player Simec Atlantis Energy and the French regional government of Normandy have formally established their Normandie Hydrolienne joint venture at a ceremony in London.
The documents were signed by Atlantis chief executive Tim Cornelius and President of the Normandy region Hervé Morin at the French Embassy.
The venture majority-owned by Atlantis has agreed terms to define its collaboration with development agency AD Normandie Developpement and regional investment fund Normandie Participations for a phased, large-scale tidal project in the Raz Blanchard.
The new company is expected to commence recruitment immediately in Normandy with a view to energising its first tidal array in 2021 before rolling out larger projects from 2022.
The venture will establish turbine manufacturing facilities in either Cherbourg or Le Havre.
“Normandy has all of the attributes required to deliver large scale tidal power projects – excellent natural resource in close proximity to load, available grid capacity, a feed-in-tariff, an established offshore energy supply chain and port facilities in Cherbourg and Le Havre and access to EU funding,” said Cornelius.
Source:renews
