Top news, October 19 – 25, 2015

Tidal Energy Today has compiled the top news from tidal and wave energy industry from October 19 – 25, 2015.

Irish marine energy firms get €3.5M from the government

The companies that received the funding from the Sustainable Energy Authority of Ireland (SEAI) are Ocean Energy, SeaPower and GKinetic. Ocean Energy has secured €2.3 million to design and build a full-scale version of their Ocean Energy Buoy, SeaPower will receive over €1 million to test their wave energy converter at quarter scale in Galway Bay, while GKinetic Energy will receive €200,000 to conduct towing tests of their tidal turbine system in Limerick Docks.

Canadian tidal project bags multi-million funding

Black Rock Tidal Power (BRTP) has raised C$15 million for the realization of 2.5 MW Triton tidal energy project in Canada. The company has also secured a commercial loan of C$4.5, in addition to the private equity cash of C$10.5 million, bringing the total acquired funding for the project to C$15 million ($11.5 million). Triton is planned for installation in autumn 2016 at the BRTP berth located at the Fundy Ocean Research Centre for Energy (FORCE) in Canada.

Marine Power Systems gets £2M for WaveSub

Swansea-based wave energy developer, Marine Power Systems (MPS), has received a grant from the EU. The £2 million EU grant will enable the development and testing of MPS’ 1:4 scaled WaveSub, paving the way for a full-scale device planned for deployment off the Pembrokeshire coast. The £3 million project also includes the funding from MPS in the amount of £900,000.

Sabella to power Philippines

French tidal energy developer Sabella has partnered up with H&WB Asia Pacific to develop tidal power plant in the Philippines. The two companies have signed a memorandum of understanding (MoU) on October 15, 2015, for the development of a 5 MW tidal power plant in San Bernardino Strait, off Sorsogon province.

Wello starts Penguin II testing

Finnish wave energy developer Wello has begun the testing of its Penguin II wave energy converter off Canary Islands, Spain. The testing of the 1:5 scaled device is expected to last for three months, and it is taking place at the Oceanic Platform of the Canary Islands (PLOCAN) test site.

Tidal Energy Today