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October 30, 2018

SIMEC Atlantis Energy forms new tidal power project joint venture

Tidal energy projects developer SIMEC Atlantis Energy has formed a new joint venture (JV) with the Development Agency for Normandy (AD Normandy) to develop a tidal power project in Raz Blanchard, Normandie.

Tidal energy projects developer SIMEC Atlantis Energy has formed a new joint venture (JV) with the Development Agency for Normandy (AD Normandy) to develop a tidal power project in Raz Blanchard, Normandie.

Along with AD Normandy, which is a regional agency for economic development, the partners in the JV include the regional investment fund Normandie Participations.

The new JV company Normandie Hydrolienne has been created with the intent to produce up to 2GW of power from the eight-mile strait Alderney Race that runs between Alderney and La Hague in France.

It will also focus on more than 1GW resource from adjacent concessions under the control of the States of Alderney.

SIMEC Atlantis CEO Tim Cornelius said: “Raz Blanchard is sitting on a huge amount of renewable, predictable energy and we wish to bring our project development, financing and power production expertise to help the region of Normandie create jobs and attract a substantial amount of investment into the Region.

“Our techno-economic feasibility study plans for the delivery of an initial 1GW of operational capacity by 2025, which could be quickly expanded to 2GW by 2027.”

“Our techno-economic feasibility study plans for the delivery of an initial 1GW of operational capacity by 2025, which could be quickly expanded to 2GW by 2027, at a Levelised Cost of Energy (LCOE) competitive with offshore wind farms currently in construction in France.

“Raz Blanchard will be delivered in stages to allow the supply chain to grow in line with our expansion plans. We look forward to working with ADEME, RTE, AD Normandy and Normandie Participations to make tidal energy a reality in Normandy.”

ADEME is the administrator for all required consents for deployment, operation and construction for tidal power in France.

A team within Normandie Hydrolienne intends to work with ADEME to secure all necessary consents needed for the tidal power project in Normandy.

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