Rolls Royce in deep with tidal electric buy
Greenbang must have been having a quick snooze when Rolls Royce was talking up its latest renewables investment this month. It’s still an interesting deal - not to mention a chance to fall back on some lazy ‘it’s the Rolls Royce of energy deals!’ puns - so Greenbang feels obliged to share it with you today.
Rolls has decided to take a 23.5 percent stake in TGL (or Tidal Generation Limited), a privately owned tidal energy firm, which it reckons will tie up nicely with its own efforts in the world of water energy. It’s not the first time Rolls has put its hand in its pocket for TGL: it’s already invested £1.5 million and some technical help in the company.
And it’s not alone: the UK government has also contributed some cash to help fund development.
So just what is it developing? A 500kW and 1MW demonstration model of its wave power electricity system, designed to operate in deep water - between 35 and 100 metres deep - without bothering shipping or wildlife. So now you know.
