Marine Current Turbines is focused on the development of the first tidal array projects in the UK located at carefully selected sites that will deliver a good commercial return for project investors. A number of sites suitable for the SeaGen technology have been identified and initial work has already been undertaken in developing projects at these locations.
MCT is focussed on the supply of the technology to projects as well as coordinating maintenance during operation. Project-specific companies have been established for each of the sites to act as the developer with the intention being that investors in the Special Purchase Vehicle (SPV) companies will take the projects forward.
MCT has an agreement in place to supply SeaGen devices for the Minas Basin Pulp & Power site at FORCE in the Bay of Fundy. Fundy Ocean Research Center for Energy (FORCE) is Canada’s leading research centre for in-stream tidal energy, located in the Bay of Fundy, Nova Scotia.
MCT is in discussions with a number of other project developers regarding other tidal sites around the world.