Tidal current energy projects Ireland: Joint Venture
Ireland’s Belleville Duggan Renewables Ltd. and Verdant Power, Inc. from the United States have partnered to establish Verdant Isles Ltd. – a joint venture to develop tidal current energy projects in Ireland and the United Kingdom.
The Sustainable Energy Authority Ireland (SEAI) studies have demonstrated tidal current energy’s potential in Ireland as an economic driver and also a source of clean energy.
The SEAI has projected “viable” tidal current energy resources of some 900 GWh per year, enough to power up to 75,000 homes, to be developed in Irish waters.
Verdant Isles expects to be in the vanguard in meaningfully leveraging this resource. Development of just half of this would mean an investment of more than 150 mn. Euro, plus the potential to create up to 250 Irish jobs in the resulting global supply chain.
Ireland plans to be at the forefront of this development, particularly because of the natural energy resources the country has available. In parallel with developing sites in Ireland and the UK, Verdant Isles plans to establish a manufacturing base in the region that will become part of a global supply chain for marine energy devices. Further research also into Ireland’s accessible energy resources will be an integral part of the joint venture.
With these combined capacities between the partners, Verdant Isles represents an opportunity to further propel Ireland as a leader in the deployment of tidal and marine renewable energy projects.