Oceana Energy Leads Wave of Tidal Power Development Projects Exceeding 6,000 Megawatts along North American Coasts

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Researched by Industrial Info Resources (Sugar Land, Texas). Oceana Energy Company (Washington, District of Columbia) and its subsidiaries are in the process of conducting studies for thirteen new tidal energy projects along the Northeast seaboard from Long Island Sound, New York, to the Bay of Fundy off Maine, and along the West Coast from San Francisco, California, north to Anchorage, Alaska with a possible total capacity of 3,900-megawatts (MW). The tidal power development trend is growing. In addition to Oceana Energy there are several other companies that are also looking at tidal and wave energy projects that could be developed for another possible 2,100MW.

Ocean Renewable Power Company, LLC, a subsidiary of Red Circle Systems Corporation (Miami, Florida), is looking at the Florida Coast, as well as Alaska and Maine Coast for projects. Red Circle Systems is studying eleven projects, and like Oceana Energy will utilize twin propeller devices that are similar to underwater windmills and produce 0.5 megawatts to 2 megawatts per unit. These units are environmentally friendly and safe for fish and marine life. Some of the other developments are focused on small turbines or devices to convert the energy.

There are some constraints that could cause these projects to stall. First, some of the developments could be held up by the deterioration of existing transmission infrastructure or the unavailability of new transmission and distribution lines. This lack of new and/or reliable electricity transmission seems to be holding up all sorts of renewable and conventional proposed new generation and is causing electricity unreliability throughout North America. The second constraint is that permitting may also hold up the projects, as there has been no definitive history of this type of power generation and its effects on fishing and shipping trades.

The provincial-owned utility Energie NB Power (Fredericton, New Brunswick) and Nova Scotia Power, a subsidiary of Emera, Incorporated (OTC:EMRAF) (Halifax, Nova Scotia), are studying projects in and around the Bay of Fundy. Off the coast of Washington the local utilities of PUD No.1 of Snohomish County (Everett, Washington) and the cities of Port Townsend and Tacoma, Washington are preparing studies of tidal and wave energy projects as well.

For more information on future business trends and project spending in the Power Industry, check out Industrial Info’s 2007 Power Industry Forecast

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