Andritz obtains majority stake in ocean power manufacturer

GRAZ/VIENNA, Austria 3/9/12 (PennWell) -- International technology group Andritz has obtained a majority share in Norwegian ocean power producer Hammerfest Strom AS.

Andritz increased its share from 33.3% to 55.4% and will now operate the company under the name Andritz Hydro Hammerfest.

Other major shareholders include Norwegian utility Hammerfest Energi and Spanish utility Iberdrola.

The company recently installed a tidal turbine at Scotland's European Marine Energy Centre (EMEC) that has a total capacity of 1 MW.

Andritz Hydro Hammerfest reports that the pilot plant is stable and that the unit supplied its first power to the grid earlier this month.

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