Siemens snaps up UK tidal pioneer Marine Current Turbines

Engineering giant Siemens is taking over UK tidal power technology developer Marine Current Turbines (MCT), building on the 45% investment it made in the Bristol-based company last November.

The German group says it has acquired a majority stake in MCT and plans to complete the acquisition of the company in the coming weeks. Terms were not disclosed.

MCT has been running its 1.2MW SeaGen demonstration turbine in Northern Ireland’s Strangford Lough since November 2008, with plans underway to develop the 8MW Kyle Rhea project in Scotland and the 10MW Anglesey Skerries project in Wales, along with installing a three-headed SeaGen S machine in Canada’s Bay of Fundy.

The company has been up for sale since last June, when its…

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