Tidal Energy Ltd further delays DeltaStream deployment
Tidal Energy Ltd has postponed the deployment of DeltaStream tidal turbine due to lack of finance.
Tidal Energy Ltd, the developer behind DeltaStream tidal energy device, has delayed the deployment of the device due to the extra costs that have arisen since the initial deployment plan that was supposed to take place in November, 2014.
Martin Murphy, Managing Director at Tidal Energy Ltd, said: “Inevitably, delay has led us to incur additional costs, not only in our standing overhead charges, but also for a re-commissioning programme and additional survey work to carry out a ‘health’ check of all our systems. As a result, we are looking at additional funding streams for our plans, while we remain grateful for the continuing support from the Welsh Government.”
Murphy added the company plans to proceed with the deployment process before the autumn this year.
“We now must have one final push to get into Ramsey Sound as quickly as possible. Once the funding has been unlocked, we will mobilise the resources we need to complete installation, which is likely to take a 30 day period. We fully intend to install our patented DeltaStream device before the autumn of this year,” Murphy said.
A grant of £50.000 was recently awarded to Tidal Energy Ltd through the SMARTCymru programme from Welsh Government, funded by the European Regional Development Fund (ERDF).
The company is using the research funding to develop its removable nacelle system what will result in a significant reduction to the operational costs associated with the maintenance of the unit, Tidal Energy Ltd’s press release reads.
Earlier this year, Tidal Energy Ltd stated that the fabrication and assembly of the 400 kW prototype device is completed and that the company is waiting for suitable weather conditions to deploy the device into Ramsey Sound, off Pembrokeshire, Wales.
Tidal Energy Ltd, is a Cardiff-based tidal energy company, that has developed DeltaStream tidal energy device. DeltaStream device is comprised of a steel main base that can carry up to three turbines with the total capacity of 1.2 MW.
Image: Tidal Energy Ltd