Emera has announced that it has formally notified OpenHydro and OpenHydro’s provisional liquidator (Grant Thornton) that it is withdrawing from its involvement in Cape Sharp Tidal, a joint venture established to develop and demonstrate tidal energy technology in the Bay of Fundy, located in Nova Scotia, eastern Canada.
Emera attributes this decision to OpenHydro's parent company Naval Energies' surprise application to Ireland’s High Court on 26 July requesting the liquidation of OpenHydro and Naval Energies’ subsequent statement that it will no longer support or invest in tidal turbines. These actions have left Emera with "no practical choice but to withdraw" from Cape Sharp Tidal.
Emera is a minority investor in Cape Sharp Tidal. The company did not own or develop the technology for this project, thus cannot continue the project without support from the technology developer, OpenHydro, to operate and maintain the technology and the turbine.
Emera claims to have repeatedly reinforced with Grant Thornton the need to continue environmental monitoring and safe operation of the deployed turbine and the importance of meeting all obligations of Cape Sharp Tidal and OpenHydro to local suppliers.
Canyon Creek Pumped Hydro Energy Storage Project, proposed at the site of one of the worst coal mining environmental disasters in Canada has been given regulatory approval. Turning Point Generation s...
Read moreInnergex Renewable Energy Inc. has announced that it has signed a final agreement to acquire TransCanada’s 62% interest in five wind farms in the Gaspé peninsula in Quebec, known as...
Read moreNaval Energies has filed a petition with the High Court in Ireland for the liquidation of OpenHydro Group Limited and OpenHydro Technologies Limited, majority owner of the Cape Sharp Tidal demonstrati...
Read moreNaval Energies has announced that Cape Sharp Tidal, a joint venture between its subsidiary OpenHydro and Emera Inc, has successfully deployed an in-stream tidal turbine and connected i...
Read moreWpd seeks to receive up to CAD 100 million (USD 75.4m) as compensation for the cancellation of the almost completed 18.45 MW White Pines wind project located in Ontario, Canada. Ontario m...
Read more