1,000 MW OF OCEAN ENERGY

Scottish & Southern in marine energy deal
Andrew Bolger, February 24, 2009 (Financial Times)

"Airtricity, the renewable energy arm of the Scottish and Southern Energy utility group, has signed an agreement aimed at developing sites capable of hosting 1,000MW of marine energy by 2020…with Aquamarine, the only UK marine energy company developing both wave and tidal power devices simultaneously, which has secured test berths for both technologies at the European Marine Energy Centre in Orkney."

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"Both companies will enter into a 50:50 joint venture to develop wave and tidal energy sites in the UK and Republic of Ireland. They aim to deploy Aquamarine’s Oyster wave energy converter and its Neptune tidal device…

"Airtricity was acquired by SSE last year for £1bn and the combined Airtricity/SSE team has developed 40 wind farms across Europe and North America, generating more than 1,500MW."

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"Edinburgh-based Aquamarine was founded in 2005, and is currently seeking to raise more than £50m of funding …

"Aitrtricity is currently developing two of the world’s largest windfarms, a 504 MW project at Greater Gabbard, off the Suffolk coast, and a 456MW onshore wind farm, located in the Upper Clyde Valley."