Tocardo and DELTA make tidal energy deal
- Business & Finance
Dutch tidal energy developer Tocardo has signed an agreement with DELTA power utility company for the purchase of clean electricity generated by its tidal energy array on the Eastern Scheldt storm surge barrier.
The two parties have agreed a partnership that will last for several years under which DELTA will use the clean power produced by Tocardo’s tidal array to supply it to its customers.
The 1.2MW tidal energy array, featuring 5 Tocardo’s T2 tidal turbines, was installed in September 2015 on the storm surge barrier located in the province of Zeeland.
According to the developers, it is capable of generating clean electricity for around 1,000 Dutch households.
Hans van Breugel, CEO of Tocardo, said: “The electricity we generate in Zeeland with our tidal power station remains in Zeeland. We are proud of the collaboration with DELTA. Because DELTA is purchasing all green certificates for the green energy we generate, DELTA actively supports our growth ambition in the field of tidal current.
“They too believe in tidal energy as an inexhaustible source of green electricity and carry it out as a true ambassador. That strengthens us in our plans for the future.”
Tocardo’s Chief Executive added the plans for the future also include the expansion of the Eastern Scheldt tidal power plant.
Roel Meijerink, Director of Energy at DELTA, added: “Tidal current has enormous potential. It has a very high predictability. It is therefore an extremely reliable and continuous source of energy and a logical, natural supplement to energy from wind and sun. It fits perfectly with the image of DELTA as a true Zeeland green energy supplier.”
To remind, Tocardo secured investment from a fund owned by Noord-Holland province after the company filed for bankruptcy late in December 2017.
The funding rescue package for the company was provided by the Participatiefonds Duurzame Economie Noord-Holland (PDENH) – a fund which invests in sustainable companies on behalf of the province of Noord-Holland, and a number of private investors.