Industry leaps to tidal defence
OpenHydro closure 'disappointing' but sector 'marches on'
The marine energy industry claims tidal stream “marches on” in Europe despite the closure of Naval Energies’ OpenHydro business.
Ocean Energy Europe chief executive Remi Gruet (pictured) said following the “disappointing news” that “closures are part of pioneering and innovating in a brand new industrial sector on the road to commercialisation”.
OEE pointed to “numerous tidal stream projects” around Europe and said costs are “coming down fast with every new project”.
It said EU targets of 10 euro cents per kilowatt-hour by 2030 were “well below offshore wind costs only five years ago”.
"The industrial opportunity presented by tidal stream is significant and governments should seize it by providing a clear signal of intent to the market,” said OEE.
Irish industry body Marine Renewables Industry Association noted the closure "with deep regret".
It added: "The outstanding pioneers at OpenHydro can be proud of their work which saw a small Irish company develop into a global enterprise which worked at the frontiers of engineering knowledge and brought the OpenHydro tidal devices within reach of technical success."
Other marine players in Ireland, reacting on social media, called the closure of OpenHydro “sad news for the sector and for the country”. Another observer added it was “not unexpected” given the technology is so far behind solar and wind.