OpenHydro, a tidal technology company, has signed an agreement with UK-based Alderney Renewable Energy to form a joint venture, named Race Tidal, for developing a 300MW tidal array in Alderney waters.
The tidal array will have 150 turbines of 2MW each and the project will generate enough electricity to power more than 150,000 homes.
Over the next three years, OpenHydro and Alderney Renewable Energy will work closely with the States of Alderney, the Alderney Commission for Renewable Energy, local communities and stakeholders to complete the required surveys and environmental impact assessments before making an application for full approval of the project.
OpenHydro will provide the turbines for the 300MW tidal array, which is expected to reach full scale deployment from 2020. These turbines will be manufactured at Cherbourg site in France.
For the tidal array, Alderney Renewable Energy and Transmission Investment have established a joint venture company FAB Link to develop a power interconnector between France, Alderney and Britain. FAB Link is developing the interconnector in conjunction with the Reseau de Transport d'Electricite.
The power interconnector will enable the tidal power generated in Alderney's waters to be exported to European markets, in addition to allowing energy to be traded between France and Britain.
Alderney Renewable Energy executive chairman Nick Horler said that the economic development of Alderney's tidal power projects will provide Europe with a new source of predictable, clean, renewable energy and improve the security of its energy supplies.
"The joint venture partnership that we now have in place with OpenHydro is a critical piece in the jigsaw as we move to now make significant progress towards creating one of the largest renewable energy projects in European coastal waters," Horler said.
Alderney Renewable Energy received a 65-year license in 2008 from the States of Alderney to develop marine renewable energy projects in Alderney's waters. OpenHydro holds a 31% shareholding in Alderney Renewable Energy.