The board of directors of RusHydro has approved the decision to set up a subsidiary, the Innovative Center of Tidal and Wave Energy to implement two tidal energy projects, news agencies reported.
The new center will be set up by RusHydro subsidiaries and will develop the Severnaya and Mezenskaya tidal power plants, RusHydro said in a statement.
The center will be an operator of the experimental project to develop a Severnaya tidal power plant in the Barents Sea. The aim of the project is to study the feasibility of the development of an 8,000-MW Mezenskaya tidal power plant in the White Sea.
Founding the company will be OJSC Leningradskaya hydroelectric pumped-storage power station (PSPP) and OJSC HydroInvest (a wholly owned RusHydro subsidiary). Recommendations to the boards of directors at these companies have been made that they approve the Innovative Center's founding.
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