Tidal Energy, which developed Wales’ DeltaStream, has stuck a deal with EDF Energy to directly sell power produced from the grid.
DeltaStream is Wales’ first full-scale tidal power generator. Under the deal EDF will purchase electricity and renewable certificates from the device for the first year of the project.
Tidal Energy managing director Martin Murphy said: “DeltaStream is not just about proving a new, innovative technology – it is about proving that tidal power can make a real and lasting contribution towards the UK’s renewable energy targets and energy security.
“Taking the first steps to commercialisation, by securing a buyer for the electricity generated, is essential to that. We are proud that this cutting-edge project is, once-again breaking new ground, and ensuring Wales is playing a central role in the race to develop the UK’s significant tidal resources.”
Development director Chris Williams added: “The ability of any project to generate revenue is obviously key to its long-term commercial success. This contract will mean that DeltaStream will have guarantees around what price it will receive for the electricity it sells to the market. At the same time, the PPA represents the beginning of a long term relationship with EDF Energy who we are delighted to be working with.”
DeltaStream was unveiled by the First Minister of Wales, the Rt. Hon. Carwyn Jones, last month.
The government showed its support for the tidal project by allocating a subsidy of 5 ‘ROCs’ for each unit of electricity generated, in order to fast-track its commercial development.
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