Wave energy company Tocardo signs deal with global law firm

Tocardo Hydro Turbine

Hydrokinetic turbine manufacturer Tocardo has entered into a strategic business partnership with international law firm Clifford Chance, giving Tocardo access to specialist legal and administrative support for tidal energy projects worldwide.

The company said Clifford Chance will support it in establishing special purpose vehicles (SPVs) for tidal energy projects via the firm's office in Amesterdam.

"This strategic partnership will help us deliver tidal energy projects anywhere in the world," chief commercial officer Radboud van Kleef said. "SPVs are established for every project. The expertise and global network of Clifford Chance, as well as standardized procedures, will greatly simplify our work and enhance the success."

The partnership represents a "major step", Tocardo said, in the development of its business.

HydroWorld.com reported in May that the company had agreed to a power distribution deal with Climex, which followed a deal with Repsol intended to further development of its offshore capabilities.

"We believe in Tocardo's technology and are glad to support them to further develop their tidal energy offering," Clifford Chance counselor Hein Tonnaer said. "Tocardo's innovative and entrepreneurial approach matches our leadership role in renewable energy projects."

For more ocean, tidal and stream power news, visit here.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs