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Delta Stream nets EDF Power Deal

22 September 2014
 
Tidal Energy Ltd has signed a power purchase agreement with EDF Energy for the DeltaStream device to be installed in Ramsey Sound off Pembrokeshire, Wales. The agreement guarantees that EDF will purchase electricity and renewable certificates from the 400kW unit for the first year of the project at a pre-agreed price. TEL managing director Martin Murphy said: “DeltaStream is not just about proving a new, innovative technology, it is about proving that tidal power can make a real and lasting contribution towards the UK’s renewable energy targets and energy security. “Taking the first steps to commercialisation by securing a buyer for the electricity generated is essential to that.” EDF Energy export sales and procurement manager Dan Brimelow added: “By taking the time to understand Tidal Energy’s plans, we structured a PPA that gives them the income certainty they need to satisfy investors and manages the risks around forecasting how much power they would produce.” DeltaStream will be amongst the world’s first grid-connected tidal demonstration projects. The device was unveiled last month at Pembroke Port by First Minister of Wales Carwyn Jones.
 
 
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