RWE, Marine Current Turbines Seek U.K. Approval for Tidal Power

Marine Current Turbines Ltd. and RWE AG (RWE)’s Npower Renewables unit today sought permission to build a 10-megawatt tidal power project off northwest Wales.

The companies plan to install seven twin-rotor tidal turbines in the sea off Anglesey in 2015 at a cost of 70 million pounds ($113 million), Marine Current Turbines said in an e- mailed statement. The offshore project by the companies’ SeaGeneration Wales Ltd. venture would harness enough power for 10,000 Anglesey homes, according to the statement.

The U.K. has estimated wave and tidal power could power 15 million homes by 2050. Marine Current Turbines in 2008 began operating a device like an underwater windmill in the sea off Northern Ireland, the U.K.’s first commercial tidal power plant.

The Crown Estate, which administers most of the U.K. seabed on behalf of the monarchy, a year ago awarded 10 contracts to companies including E.ON AG (EOAN) and Siemens AG (SIE) of Germany, Vattenfall AB and Iberdrola SA (IBE)’s ScottishPower unit to develop as much as 1.2 gigawatts of wave and tidal power in Scotland, or enough to power 700,000 homes. Siemens last year bought an almost 10 percent stake in Marine Current Turbines.

To contact the reporter on this story: Alex Morales in London via Amorales2@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

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