Sustainable Marine Energy (SME) is to supply three next generation Plat-I floating tidal energy systems, each rated at 420kW, to Spicer Marine Energy for a project in Nova Scotia, Canada.
Components for the first of the Plat-I platforms have already started arriving at SME’s new systems integration facility in Dartmouth, Nova Scotia, for the Pempa’q in-stream tidal energy project.
The platform will be assembled and launched at AF Theriault & Son in Meteghan later this year prior to being installed at the Grand Passage site for commissioning trials through the winter.
Construction work will then start at the Fundy Ocean Research Centre for Energy (FORCE) in the second quarter of 2021, where this first platform, alongside a further two, will be installed to deliver phase 1 of Pempa’q.
Spicer Marine Energy has signed a design build and operate (DBO) agreement with Reconcept for the first phase of Pempa’q.
Under the terms of the agreement, Spicer will deliver and operate the project over its 15-year life on behalf of Reconcept’s RE13 Meeresenergie investment fund.
Reconcept managing partner Karsten Reetz said: “With the signing of the DBO contract we have reached a significant milestone.
“It provides the basis for further successful reconcept investment offers in the field of marine energy.
“Our first investment fund named ‘RE13 Meeresenergie’ attracted great interest from the financial market.
“Around 250 German private investors participated in this tidal energy investment to deliver the first project in Nova Scotia’s Bay of Fundy. Now the doors are open for further high-yield offers.”
SME chief executive Jason Hayman said: “This is a fantastic achievement for the whole Sustainable Marine Energy team in Canada, Scotland, and Germany who have spent the past two years solving a range of technical, environmental, and commercial challenges to get this project across the line.
“Support has been provided for this project, the first of its kind in the world, by a large number of stakeholders including the provincial government of Nova Scotia who have steadfastly promoted the potential of the Bay of Fundy’s tidal energy resource.
“We look forward to working with Reconcept to deliver a successful project that will provide an attractive return for their investors.
“Now that the first phase of the project has commenced we will be working with them on financing for subsequent phases.”
SME’s first Plat-I prototype has been deployed at a test site in Grand Passage, Nova Scotia for almost two years.