Minas Tidal Limited Partnership (MTLP or Minas Tidal) is pleased to announce the acquisition of the Minas Basin Pulp and Power (Minas Energy) berth, located at the Fundy Ocean Resource Centre for Energy (FORCE).

Minas Tidal is a partnership between International Marine Energy (IME) and Tocardo International BV (Tocardo). Tocardo is a Dutch-based marine turbine supplier, with expanded interests in the emerging Canadian marine renewable energy industry. Tocardo is active world-wide in the rapidly developing tidal energy industry. IME is owned by Tribute Resources Inc., a renewable energy corporation trading on the TSX V exchange with its head office in London, Ontario, and by the Calgary-based Himmelspach Group. In 2013 Tribute entered the Canadian river, marine, and tidal market with its acquisition of Western Tidal Holdings Ltd., a British Columbia-based renewable energy company focusing on developing tidal power energy in B.C. Since that time, Tribute and IME have expanded their tidal and renewable project interests in Canada and internationally.

Minas Energy’s leasehold rights to the berth site at FORCE, along with a 4 megawatt power purchase agreement (awarded in December 2014) will be transferred to Minas Tidal, the new Nova Scotia-based development entity.

Minas Tidal’s berth will be advanced by a Nova Scotia project development team under the leadership of Mark Savory, P. Eng. Mark’s extensive project delivery experience at Emera Inc. included work in all facets of the energy business.

Early stage financing has been provided by IME and Tribute through financing provided by its chief financial institution, the Pace Credit Union – Well beyond a Bank.

The Minas Tidal project will incorporate the proven Netherlands-based Tocardo tidal turbine technology. An initial equipment deployment within the Bay of Fundy is planned for the fall of 2017. This first platform will be followed by further deployments in 2018. Tocardo currently has a portfolio of ten single or array-connected tidal turbines presently in service in the Netherlands near Texel Island, at Afsluitdijk in Den Oever, located at Eastern Scheldt. Earlier this year, Tocardo entered into a 20 year contract with the European Marine Energy Centre (EMEC) in Orkney, Scotland to install and operate a pre-commercial array with work commencing in early 2017.

Tocardo is a Dutch-based company and a global leader in tidal energy solutions. Tocardo develops state-of-the-art commercial marine solutions that harness the potential of electricity production. Located adjacent to a Dutch icon, the Afsluitdijk, Tocardo’s head office is ideally positioned for research and product development. Tocardo’s first prototypes were installed eight years ago and will continue to provide reliable energy for many years to come.

Tocardo is eager to enter the Canadian tidal energy market. Within the projects, it will be deploying its T2 bi-directional open rotor turbine generators, rated at 250kW. The Minas Tidal project is expected to be based around four of Tocardo’s patented semi-submersible platforms, known as the Universal Foundation Platform Systems (UFS), attaching four T2 tidal turbines, for an aggregate of 1MW for each UFS. The combination of four UFS platforms will comprise the four megawatt allocation at FORCE. The floating submerged platform structures are environmentally sound, and will be held in place by catenary mooring systems. The relative proximity of the UFS to the water surface allows for improved visual monitoring, and simplifies accessibility.

Minas Energy, under contract with the Nova Scotia Department of Energy, identified and established the FORCE site in 2009. Minas Tidal will continue to rely extensively on the expertise and experience of the Minas Energy team. Minas Energy will support Nova Scotia’s objective to establish a new marine renewable energy industry. Minas Energy will fill local agency needs and represent Minas Tidal on the FORCE board of directors. Minas Energy looks forward to comprehensive stakeholder engagement and consultations with First Nations, fishing industry groups, regulators, Government, and the general public.

In the coming weeks, Tocardo will step up discussions with supply chain companies such as fabricators, marine contractors, system integrators, engineers and scientists.

Jane Lowrie, CFO, IME“Minas Tidal presents a unique opportunity for our groups to work together, combining our respective expertise to build a Nova Scotian project development team, which will allow us to contribute to the development of Nova Scotia’s considerable tidal energy potential.”

Hans Van Breugel, President, Tocardo“We are looking forward to demonstrating Tocardo’s capabilities in North America and hope to make Nova Scotia the centre of our future manufacturing operations.”

John Woods, VP of Energy Development, Minas Energy“We are thrilled to be part of this team. It has all the right components for success. We are eager to get out into communities and meet with people to discuss the benefits of this clean energy project.”

Minister Samson“The renewable energy potential in the Bay of Fundy tides is attracting world-wide attention and respected international players like Tocardo and IME. The involvement of companies of this calibre, and the ability to test the different technologies they bring to the table here, will help Nova Scotia become a global leader in tidal energy and continue to build our economy.”

 

For more information, please contact:
Kris MacLellan, Minas Energy
(902)229-0580
Jennifer Lewis, International Marine Energy
(519)871-2566
Hans van Breugel, Tocardo International
+31 653327563
www.minastidal.com