Tidal companies form Nova Scotia partnership
A strategic partnership to develop a 3MW across three locations in Nova Scotia’s Bay of Fundy has been defined in recent weeks. The companies involved include Tribute Resources, Fundy Tidal, and Tocardo International.
By K.Steiner-Dicks on Dec 17, 2013
According to a news statement, the partnership outlines terms for the proposed participation by TRB and Tocardo of a strategic interest in Fundy Tidal as well as the financing and development of the small-scale tidal Community Feed-In Tariff (COMFIT) projects awarded to Fundy Tidal by the Province of Nova Scotia.
Dutch based tidal turbine producer, Tocardo will work with Tribute to deliver the first stage of the project at Digby, Nova Scotia. This will include the installation of a 1.95 MW array of Tocardo T200 tidal turbines in the Digby Gut of the Bay of Fundy. Fundy Tidal will act as project developer, operator and retain a majority interest in the projects.
The projects represent a key milestone in the development of tidal power in Nova Scotia as envisaged by the policies of the Nova Scotia government. The Province has established several feed-in tariffs to encourage development of tidal power in the area. The COMFIT supports devices 500kW connected to the transmission system.
The terms also acknowledge and support Fundy Tidal’s commitment to establish testing & demonstration facilities in Digby County to be co-located with the infrastructure required for the COMFIT projects.
As part of the partnership, Tocardo will set up a tidal turbine assembly and manufacturing plant in Nova Scotia.