Renetec Delays Start of First Tidal Power Project

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Researched by Industrial Info Resources East Asia (Kofu-shi, Japan)--As Korea Hydro and Nuclear Power Company Limited (KHNP) (Seoul) prepares for the start of South Korea's largest tidal power project, Renetec Company Limited (Seoul) has delayed the start of what will be the country's first tidal power station. KHNP's massive tidal power project is not due for completion until 2018, while Renetec's smaller project is scheduled for completion in 2016.

So far, South Korea is one of three countries in the Pacific region that has tangible tidal power plans on the books. Though the United States and Canada have far more projects in development, South Korea represents more investments.

Renetec typically deals in solar and hydroelectric power and biomass-to-energy projects, however the company is embarking on its maiden foray into tidal power, much like KHNP. Renetec, in association with Voith Hydro GmbH (Heidenheim, Germany), a joint venture between Voith GmbH (Heidenheim, Germany), and Siemens AG (NYSE:SI) (Berlin), has been working to develop a tidal turbine suitable to conditions found in the waters off South Korea. Renetec constructed a small pilot power station after a prototype was completed, and finished test runs at the end of last year.

After completing preliminary data, Renetec began planning the construction of a 150-megawatt (MW) commercial-scale tidal power plant in the waters off Jindo Island in earnest. The $560 million power station is estimated to have the potential to produce electricity for more than 100,000 households when completed. Renetec is also planning a larger tidal power station, which is due for completion in 2018. New Zealand and Australia are also investing in wave and tidal power, and Japan is considering the revival of its wave power study program, though it probably will not begin development for a few years yet. Currently, Industrial Info is tracking more than $11 billion in tidal power projects throughout the world.

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