A developer of a tidal energy device is looking for new investment to move closer to commercial sales. Scotrenewables Tidal Power has hired the investment bank Simmons & Company International to help explore financing options. The company did not say how much it is looking to raise. Its tidal turbine, the SR2000, has been tested at the European Marine Energy Centre on Orkney over the past year. The trial has supplied up to 25 per cent of the electricity on the island for short periods. The device has recently been generating more than 20 megawatt hours per day. Scotrenewables wants to take the technology to market and deliver the first group of devices, known as arrays, that can be deployed commercially.
Times 7th Nov 2017 read more »