Ottawa commits $30 million for new tidal power project in Bay of Fundy
HALIFAX — Ottawa has announced a $29.8 million grant for a new project that aims to harness the immense power of the Bay of Fundy’s tides.
Natural Resources Minister Amarjeet Sohi announced the grant in support of a $117-million project operated by Halagonia Tidal Energy Ltd. on Thursday, amidst a meeting of G7 ministers that has emphasized the importance of renewable energies.
Simon De Pietro, director of Irish-based DP Energy, said its Halagonia subsidiary would produce enough energy to power 2,500 homes using a tidal power generation unit tested in the bay.
He said the nine megawatt system could combine both floating and submerged turbines to work together, improving efficiency.