U.S.-based marine energy company Verdant Power Inc. and Ireland's Belleville Duggan Renewables Ltd. have have established a joint venture called Verdant Isles Ltd. to develop tidal power projects in Ireland and United Kingdom.
Ireland's tides have the "viable" potential to generate about 900 GWh per year, according to Sustainable Energy Authority Ireland (SEAI), providing a strong economic catalyst for the North Atlantic country as well.
Verdant Isles said it plans position itself at "the vanguard in meaningfully leveraging this resource" by establish a manufacturing base in the region that will "become part of a global supply chain for marine energy devices" -- development of which would equate to hundreds of millions of dollars in investments and up to 250 Irish jobs.
"The establishment of Verdant Isles allows Verdant Power to develop opportunities in Ireland and the UK by partnering with a locally-based engineering, procurement and construction (EPC) renewable energy contractor and developer with whom the company has established a strong working relationship," Verdant Power co-founder Trey Taylor said.
Verdant Power has been active in the U.S. tidal energy market since its founding in 2000 and holds the distinction for being the first company to receive a Federal Energy Regulatory Commission license for a marine power project. FERC awarded the company a license for the 1.05-MW Roosevelt Island Tidal Energy project, located on the East River in New York, in January 2012.
More recently, a grant from the National Science Foundation allowed Verdant Power to establish a collaboration with the University of Minnesota's St. Anthony Falls Laboratory to advance research, innovation and training in MHK technology in August 2013. The company is also partnering with Turkey's Electricity Generation Company (EUAS) to perform feasibility studies for a 17 MW project neare Adana, Turkey, via a grant through the U.S. Trade and Development Agency.
Verdant Power was also one of six companies to have received funding from the U.S. Department of Energy's Office of Energy Efficiency & Renewable Energy in December to help advance MHK survivability and reliability.
"Our goal is to become one of the leading project developers in the clean tech sector," said John Gleeson of Belleville Duggan Renewables. "To achieve this, we need to be aligned with technology developers at the forefront of their respective areas.
"Belleville Duggan Renewables is excited to announce the establishment of Verdant Isles as a partnership with Verdant Power -- a world leader in the design and application of marine energy solutions."
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