DP Energy Plans to Test Tidal Energy Device in Bay of Fundy, Canada

DP Energy plans to submit an application to use a Bay of Fundy testing site in Nova Scotia for its tidal energy device.

During the Marine Renewables Canada annual marine energy conference, Managing Director of the company Simon de Pietro said that funding large-scale wave and tidal projects will not be easy, the Irish Independent reports.

Mr. de Pietro said that the investors want proven technology and projects, and that they are reluctant in funding the technology that’s never been deployed on a commercial scale.

“We need confidence and political support and investors want something that works,” he added.

DP Energy has developed 11 wind farms in Ireland, and it is also working in other parts of the world, but they consider that it is difficult to find funding for tidal energy projects.

Mr. de Pietro was quoted as saying: “We know what banks say – put it in the water and when it’s running we’ll talk. Tidal energy is expensive and the technology unproven. It’s challenging and difficult. There’s not that many utility companies looking for projects and that’s a difficulty.”

At the end of the conference Chairman of Marine Renewables Canada, Doug Keefe concluded that the key for developing the industry is collaboration between companies, and he invited firms to test their devices in the Bay of Fundy in Canada.

Subsea World News Staff, November 28, 2013;  Image: DP Energy

 

Share this article

Follow Subsea World News

Events>

<< Jan 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Subsea Expo 2018

The largest wholly-focused subsea event in Europe, Subsea Expo is organised by industry body Subsea UK…

read more >

8th Myanmar Oil, Gas & Power Summit

The Myanmar Oil and Gas Summit is the longest established Oil & Gas event in Myanmar. Every year the event is attended by government…

read more >

European Gas Conference 2018

The European Gas Conference celebrated its tenth anniversary amid an air of increasing optimism following considerably shifting markets in the last few years…

read more >

SPE/IADC Middle East Drilling Technology Conference and Exhibition

The theme for this conference is “Building on Today’s Efficiencies for Tomorrow’s Market.” This will be the basis for the technical agenda…

read more >