Michael Harris, Online Editor, HydroWorld.com
September 25, 2012 | 0 Comments
BRISTOL, United Kingdom -- Alstom Power has signed an agreement that will give the company control of Rolls-Royce's Tidal Generation Limited (TGL), HydroWorld.com has learned.
TGL, a wholly-owned subsidiary of Rolls-Royce PLC, specializes in the design and manufacture of tidal stream turbines.
TGL is based in Bristol, U.K., and has 29 employees. Financial details of the transaction were not disclosed.
HydroWorld.com reported in March that TGL had successfully installed a 500-kW tidal turbine prototype at the European Marine Energy Centre's (EMEC) offshore test site near Orkney, Scotland.
The unit was subsequently recognized by the International Tidal Energy Summit at the 2011 Tidal Today Awards.
Alstom says the acquisition will help complete its renewable power portfolio, which also includes hydro, geothermal, biomass and solar branches.
The company says TGL will complement its existing ocean power research and development facility, which has been based in Nantes, France, since it was established in 2010.
"With this acquisition, Alstom strengthens its position in a promising market and complements an already large offer of cutting-edge renewable energy technologies," says Jerome Pecresse, President of Alstom Renewables Power.