OpenHydro nets USD 5 mln from Canada

OpenHydro Technology Canada will receive USD 5.173 mln (CAD 6.353 mln) for the Bay of Fundy Tidal Stream Project.

The funding is provided though Sustainable Development Technology Canada’s (SDTC) SD Tech Fund.

Through a joint venture, Cape Sharp Tidal formed by Emera and OpenHydro, the consortium aims to deploy 4 MW grid connected tidal array at Fundy Ocean Research Centre for Energy (FORCE) facility in the Bay of Fundy.

The aim is to demonstrate the cost and performance of a commercial tidal farm.

The project is also expected to validate the turbine spacing effects, control strategies, connectivity and cabling installation needed to deliver an operational tidal turbine array.

Each unit is expected to produce 2 MW at a cost of 14.7 cents per kWh by 2020.

James Ives, CEO of OpenHydro, said: “We are extremely grateful to Sustainable Development Technology Canada for supporting us in the development of our 4 MW tidal array at FORCE in 2015. This project represents an important step in building a local tidal energy industry in Nova Scotia and a next step in the development of commercial tidal farms in the region.”

Jane Pagel, Acting CEO of SDTC, added: “By supporting these innovative technologies, SDTC is investing in efficiency and environmental performance, which translates into a cleaner environment. We look forward to working with these companies to get their products to market successfully.”

Sustainable Development Technology Canada was created by the Government of Canada to support projects that develop and demonstrate new technologies to promote sustainable development.

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Image: EMEC