Tidal developer eyes $62M Cobscook Bay project
A Utah-based tidal power company wants to build a $62 million demonstration project at Half Moon Cove in Cobscook Bay.
Halcyon Marine Hydroelectric founder Ramez Atiya told the Bangor Daily News that his company is a finalist in a bid to build a massive tidal power system in the United Kingdom. He said Cobscook Bay's tides make it a prime location for a demonstration and research facility to promote the company's "tidal wing" technology, a Halcyon-patented hydropower system that generates power through the ebb and flow of tides.
Atiya said the project would be financed through a loan from the U.S. Department of Agriculture or Energy. He's proposing to fund the project, but ownership and 85% of the revenues from the facility would be retained by the city of Eastport. He estimates the project could generate up to $4.8 million annually through jobs, increased tourism and low-cost power, he told the paper. The Eastport City Council is expected to discuss the proposal at its meeting Monday.
Ocean Renewable Power Co., a hydropower company in Portland, in March deployed its own tidal turbine unit in Cobscook Bay and hopes to have a commercial-scale tidal generator unit connected to the electric grid by the end of the year.
Go to the article from the Bangor Daily News >>
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