DCNS adds OpenHydro to offshore plans

Photographie r¿alis¿e le 24 ao¿t 2011 lors du transport et de l'installation de la turbine de la future hydrolienne qui sera immerg¿e au large de Paimpo-Br¿hat. Photo Fred TANNEAU/DCNS

OpenHydro's ring-shaped system

French naval giant DCNS has taken a controlling stake in Irish tidal-power technology outfit OpenHydro, as the next step in an expansion into ocean energy that will include development of floating wind farms.

DCNS is spending some €130m ($172.7m) increasing its current 11% holding in OpenHydro to 59.7% following last year’s trials of its 16-metre-diameter ring-shaped turbine off the coast of Brittany, western France.

The company is targeting annual revenue from the tidal power sector of €1bn by 2025.

DCNS chief executive Patrick Boissier says the company is “on track” with its wider ambition of doubling its overall revenue by the end of the decade from 2009 levels of €2.4bn through a portfolio of developments in offshore wind, wave, tidal and ocean thermal-energy conversion.

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