Siemens Energy acquired a minority stake in England's Marine Current Turbines
Siemens Energy is a pioneer in the design and development of tidal current energy turbines and the purchase was of just below 10 percent in the Bristol-based company.
Rene Umlauft, CEO of the Renewable Energy Division of Siemens Energy stated: “With this investment in an early stage company we're securing access to an innovative technology in the field of renewables. As one of the technology leaders in ocean power, Marine Current Turbines is a suitable partner for us to enter the promising ocean power market."
According to a recent report by Pike Research the ocean energy industry could represent a large source of renewable electricity, reaching up to 200 GW of installed generation capacity by 2025.
The UK's Carbon Trust recently announced 22 million pounds (US$34.5 million) of new funding for the six most promising wave and tidal power technologies. MCT was among the companies selected for funding.
Marine Current Turbines has already successfully implemented its first commercial demonstrator project SeaGen in Strangford Lough in Northern Ireland. 1,500 homes have powered by two axial turbines with a combined capacity of 1.2 MW, since November 2008.
The Green Grid plan for the North Sea includes tidal power stations. Nine European countries are planning to connect renewable power generation sources like tidal, hydropower, and wind to a HVDC underwater energy grid in the North Sea.
