Voith Siemens Hydro Power Generation signed an agreement July 6 with Korean renewable energy developer Renetec to form a joint venture to promote tidal current technology.
The companies plan to build a 600-MW tidal power project in Wando Province of South Korea.
Voith Siemens holds 51 percent of the joint venture, which is to produce and market tidal power turbines. The units are to be mounted on bridge-like structures, three 1-MW windmill-like units per structure.
ï¿½We are taking another decided step in our strategy to make ocean energies feasible as an additional economical and recognized form of renewable energy from water,ï¿½ Voith Siemens President Hubert Lienhard said.
In 2005, Voith Siemens acquired Wavegen of the United Kingdom, which is developing wave power technology. (HNN 7/3/07) Lienhard said having access to both wave and tidal technology gives excellent market position to Voith Siemens.
Renetec has been involved in renewable energy development since 2001. In cooperation with Germany’s Institute of Fluid Mechanics and Hydraulic Machinery, Renetec has been developing the Wando project.
In November 2006, Voith Siemens announced it signed a memorandum of understanding with Renetec, Korea Hydro &Nuclear Power Co., Korea-based steel maker Posco, and the Jeonnan Province government to form Korea Current Power Joint Venture. (HNN 11/24/06)