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Rolls-Royce sell tidal power business

Rolls-Royce has announce the sale of its tidal turbines business to French engineering company Alstom.

Bristol-based Rolls-Royce has agreed to sell the Tidal Generation Limited business which specialises in the development and manufacture of turbines that capture and convert the energy of tidal streams to generate electrical power.

The sale is expected to be completed within the next few months, subject to closing conditions.

For Alstom, the acquisition will reinforce their position in renewable power, as a provider products and systems for the likes of hyrdo, wind and geothermal power generation.

Tidal Generation currently employs 29 people, and was the first European Marine Energy Centre to receive UK Renewable Obligations Certificates.

Steve Burgin, President of Alstom UK, said: “This is a tremendous development for Alstom because it puts us in a real leadership position across not just tidal power or renewables but clearly demonstrates our commitment to lower carbon power in the UK as a whole.

“With today’s acquisition, we’ve got an incredibly exciting opportunity to take a technology that’s right at the start of its deployment to commercial scale in the future.

“As a group we can now offer lower carbon solutions to meet all needs – from gas-fired power stations to a whole range of renewables, from offshore wind to marine to biomass – that not only help reduce emissions but also keep the UK’s power flowing.”

This was posted in Bdaily's Members' News section by Tom Keighley .