BAM International has acquired Strukton International’s majority stake in the Tidal Bridge BV joint venture.
BAM’s remaining partner in Tidal Bridge is Dutch Expansion Capital (DEC).
The joint venture was established in 2015 for the realization of floating power plants that convert tidal energy into electricity.
In May 2017 Tidal Bridge started a feasibility study for the construction of a $225 million floating bridge on the Indonesian island Flores, the Palmerah Tidal Bridge project.
The share transfer is related to a strategic decision by Strukton to discontinue its activities in the Indonesian market.