Sabella responds to Naval Energies move
- Business & Finance
Sabella has commented on the implications of Naval Energies’ recent decision to withdraw from the tidal energy market, saying that this move by a tidal energy sector protagonist should not be interpreted as the death knell for the industry in France.
There are tidal turbines currently in operation and others will be deployed in the coming months, proving the sector’s dynamics, the French tidal energy technology developer said in a statement released on August 2.
The company pointed out that other prominent industry players such as GE-Alstom, Siemens and Voith had developed tidal energy technologies and ultimately decided to retreat from the sector over the past several years. According to Sabella, it is perfectly normal and understandable to see players disappear or retreat from a developing sector as they test its viability, be it in terms of technology, strategy or finance.
To remind, Naval Energies said that its decision to stop further investments into development of its tidal energy business, OpenHydro, was reinforced by ‘the lack of commercial prospects’ for tidal stream project development.
Meanwhile, France is set to see Sabella’s D10 tidal turbine deployed in the Fromveur Passage off Ushant island, as the company will install the device in September. The D10 tidal turbine will be connected to the island of Ushant for a three-year operation.