With technological advances, increasing investor appetite and success stories in the UK, France, Canada, South Korea, Japan and Chile – the estimated 90GW+ of exploitable global tidal power is fast becoming a reality.
DCNS calculates the world's tides offer a total exploitable power of at least 90GW, the equivalent of some 60 nuclear reactors.
The UK currently leads the way with around 10MW of capacity already being tested. The global tidal industry is also becoming increasingly competitive and major contenders are now battling to deploy the first £multi-million large scale commercial arrays.
Investor interaction is now crucial. Martin Wright, Chairman of Mojo Maritime says that investors ‘want to know there is a genuine path to provide complete system of technology, who's driving standardisation, who is driving O&M, how are you going to sort out installation and what's it all going to look like as you industrialise it.'
These major stakeholders will therefore come in when they can see they are backing the right project with the right technology and where there is the chance to scale up and it is clear that the industry is ever nearing that point.
"Tidal is now ready to take its rightful place in the pantheon of renewable energy sources" says Jason Deign, Editorial Director at Tidal Today. Jason along with industry leaders Siemens, EMEC, Renewable UK, FORCE and others have outlined the latest opportunities and challenges currently in the global tidal sector in this latest expert led complimentary white paper.
The expert led white paper provides critical insight on many of these challenges. It addresses the current status of global tidal developments; the evolution of existing and future markets; reducing cost and risk associated with tidal; as well as business opportunities for companies on the periphery of the industry looking to get a foothold.
These key insights are compiled into a paper titled ‘Global Tidal Development in 2014 and Beyond: The Path to Commercialisation'.
Follow here to read the complimentary paper: http://goo.gl/1fyrJf
Or contact Elizabeth Demestiha