Siemens buys majority stake in ocean energy company MCT

Energy corporation Siemens has acquired the majority stake in Britain’s Marine Current Turbines Ltd. (MCT).

Siemens increased its stake in the company to 45% in November 2011 but has raised its involvement even further for an undisclosed amount. Siemens first acquired a minor stake in the company in February 2010.

MCT has already demonstrated its SeaGen technology at Northern Ireland's Strangford Lough. The two units were installed in November 2008 and have a total capacity of 1.2 MW, according to MCT.

Siemens says an 8-MW project at Kyle Rhea in Scotland and a 10-MW project at Anglesey Skerries in Wales are in the planning stage.

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