Tidal Power Project produces power from ocean tides.
It has been learnt that, Gujarat has approved the funding along with an additional Rs. 100 Mio for a pilot geothermal power project in the budget for the current financial year.
According to D.J. Pandian, the state’s principal energy secretary:
“After we see how these pilot projects do, then we’ll take a look at developing a policy to attract more investment”
The state may work with the International Finance Corp., the World Bank’s private-sector financing arm, which is interested in supporting a tidal-energy project with a loan or equity investment, he said.
Atlantis Resources Corp., a tidal-turbine maker backed by Morgan Stanley (MS), is developing a marine energy project in the Gulf of Kutch with the Gujarat Power Corp. with an initial capacity of 50 megawatts.
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