DP Energy has entered into a Joint Development Agreement (JDA) with Chubu Electric Power Company and Kawasaki Kisen Kaisha (K LINE) to develop the first phase of the Uisce Tapa tidal in the Bay of Fundy, Nova Scotia.
The project holds a 15-year Power Purchase Agreement (PPA) of CAD530/MWh (US$422.8/MWh) awarded under Nova Scotia’s Marine Renewable Energy Act and is the recipient of a CAD29.75 (US$24) million grant from Natural Resources Canada under their Emerging Renewables Power Program.
The project at the Fundy Ocean Research Centre for Energy (FORCE) site is already well advanced and testing is underway for the project’s environmental monitoring platform being developed together with the Offshore Energy Research Association (OERA) under their Pathway Program. The monitoring platform will be deployed at the project site this summer and subject to regulatory approval and final investment decision by the parties, the first of the turbines is scheduled to be installed and commissioned in 2023.
After completion of the first phase (3 x 1.5 MW turbines), the power generation capacity is planned to increase to 9 MW in the second phase.
