Naval Energies Shelves Tidal Energy Plans with OpenHydro in Liquidation

Image Source: Naval Energies

Naval Energies has decided to stop investing in the field of tidal turbines and to concentrate its efforts on floating wind turbines and ocean thermal energy conversion.

Following Naval Energies’ decision, its Dublin-based subsidiary OpenHydro has been put under provisional liquidation.

On 24 July, the company deployed a new tidal turbine in Canada and connected it to the power grid.

Naval Energies had also recently inaugurated the world’s first assembly plant for OpenHydro tidal turbines in Cherbourg.

Nevertheless, Naval Energies claims that the market for tidal-turbine energy is closing, and that the gap between the technology and the demand on the market, and the lack of commercial prospects over the long term, is forcing the company to bring its developments in tidal energy to an end.

Namely, the French Environment and Energy Management Agency (ADEME) only foresees 100 to 150 MW to be installed between now and 2028, i.e. 50 turbines of 2 MW each over ten years. The United Kingdom had also decided two years ago not to launch specific tenders, and tidal has now to compete with fixed bottom offshore wind. In Canada, there is also great sensitivity to the cost of the technology, Naval Energies explains.

Laurent Schneider-Maunoury, CEO of Naval Energies, said: “It is with regret, but also responsibility, that we are taking the decision to stop developing tidal-turbine energy. The deterioration of the market, in France and around the world throughout the recent months, has been reflected in a lack of commercial prospects over the long term. This evolution means that we alone can no longer finance the development of the tidal-turbine activity. In the current context, maintaining our investments would have led to consume the company’s resources and thus, ultimately, to weaken Naval Energies as a global actor in the Ocean Energy sector, as we still have two product lines. In the future, Naval Energies will focus its development on Floating Offshore Wind (FOW) and Ocean Thermal Energy Conversion (OTEC), which are receiving support from the public authorities.”

Rémi Gruet, CEO of Ocean Energy Europe, said: “The liquidation of OpenHydro is disappointing news, yet closures are part of pioneering and innovating in a brand new industrial sector, on the road to commercialisation.”

Neil Kermode, managing director of European Marine Energy Centre (EMEC), stated: “EMEC is gutted to hear that Naval Energies have made the difficult decision to liquidate OpenHydro.

“OpenHydro were EMEC’s first tidal energy client, and are our longest standing client, having been operating at the Fall of Warness test site since 2007.

“This is the hard journey that all technologies have to travel. It is such a shame that OpenHydro are not going to make it.”

Share this article

Follow Subsea World News


<< Nov 2019 >>
28 29 30 31 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 1


The Offshore Technology Conference Asia (OTC Asia) is where energy professionals meet to exchange…

read more >

6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on; +44 (0) 203 793 8800.

More info

read more >

Underwater Intervention (UI) 2020

Underwater Intervention Conference is a conference where oil and gas industry professionals, senior decision…

read more >

Subsea Expo 2020

Subsea Expo is the world’s largest subsea exhibition and conference and is completely free to attend.

read more >