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Andritz acquires stake in tidal hydro firm Hammerfest Strom

International technology group Andritz has acquired a 33.3 percent stake in Norwegian tidal hydro specialist Hammerfest Strom AS, including its subsidiary, Hammerfest Strom UK Ltd, based Scotland, by means of a capital increase, Andritz Hydro reported.

In 2003, Hammerfest Strom installed the world’s first tidal current turbine in Kvalsundet, Norway, with permanent connection to the electricity grid. Based on this successful prototype, the company is currently collaborating with Scottish Power Renewables (part of Iberdrola Renewables) on the manufacture of a 1-MW tidal current turbine to be deployed at the European Marine Energy Centre in Orkney, Scotland, in 2011.

International energy group Statoil, Norwegian power utility Hammerfest Energi and Spanish utility company Iberdrola are the other main shareholders in Hammerfest Strom.

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