Voith Siemens, which acquired wave power developer Wavegen, and Renetec, a renewable energy developer, signed the agreement with Posco Engineering &Construction for development, installation, and trial operation of three tidal current turbines.
The Voith Siemens-Renetec joint venture plans to build a 600-MW tidal power project off Wando County in Jeollanam-do Province of South Korea. (HNN 7/12/07) Voith Siemens holds 51 percent of the joint venture, which is to produce and market tidal power turbines.
Voith Siemens President Hubert Lienhard said the speed of the creation of the joint venture and the advancement of the memorandum of understanding for the first machines reflects the attitude of the joint venture partners for successful implementation of the new technology.
�We are convinced that, within the next few years, ocean energies, and the tidal current power technology is only one form of it, will contribute a significant share to renewable energy production, similar to the one of wind energy today,� Lienhard said.
The tidal power units are to be mounted on bridge-like structures, three 1-MW windmill-like units per structure.
In 2005, Voith Siemens acquired Wavegen of the United Kingdom, which is developing wave power technology. Renetec has been involved in renewable energy development since 2001.
In cooperation with Germany's Institute of Fluid Mechanics and Hydraulic Machinery, Renetec has been developing the Wando project.