Siemens said it has acquired the majority stake in UK-based Marine Current Turbines, a company which develops and builds tidal power systems.
In November 2011, Siemens increased its stake in the company to 45 per cent.
Marine Turbines has implemented a commercial-scale demonstration project with SeaGen in Northern Ireland. Since November 2008, two axial turbines with a combined capacity of 1.2 megawatts (MW) have been providing power to about 1,500 households.
The technology
Tidal turbines generate electricity by utilising tidal current flows. The SeaGen turbine is fixed on a structure and is driven by the flow of the tides. This technology is similar to a wind turbine, with the rotor blades driven not by wind power but by tidal currents.
Twin rotors turn with the tidal current and optimally track the direction and speed of flow thanks to blades which can rotate through 180 degrees.
“We will continue to drive the commercialisation of this promising technology which harvests energy from highly predictable tidal streams,” said Mr Ted Scheidegger, Chief Executive Officer of the Solar & Hydro Division of Siemens Energy.
The worldwide potential for power generated by tidal power plants is estimated at 800 terawatt-hours (TWh) annually, which is equivalent to 3-4 per cent of the global power consumption. Tidal turbines are part of Siemens' environmental portfolio. In fiscal 2011, revenue from the portfolio totalled to about €30 billion.