Tribute Resources and Fundy Tidal will work with Dutch-based tidal turbine producer, Tocardo, to commission the project, which could include installing up to 16 of T200 turbines in addition to the design and development of a floating barge platform to accomodate these turbines.
The team is also looking at potential facilities and local supply chain relationships in Digby County in order to cater to requirements of the project and to serve as Tocardo’s tidal turbine manufacturing facility in North America.
Fundy Tidal president Vince Stuart said: "We continue to be excited to work with the Province, the municipalities in Digby County and our academic and industry partners who have been most supportive in promoting the region as a focal point for marine renewable energy development in Nova Scotia.
"We have excellent partners to complete the financing and technical elements of our COMFIT projects.
"The addition of Tribute Resources to our board of directors is a great compliment to the experience of Fundy Tidal’s team."
The first system under the Digby Gut project, which is one of three COMFIT projects under development in Digby County by Fundy Tidal, is anticipated for operation by fall of 2015 and plans for further expansion are likely to be the subsequent year.
Further, the deal also allows the involved partners to develop and finance all existing COMFIT projects as well as to join forces on future projects in Atlantic Canada and even other places in Canada.
