By Bolaji Ajala
SIEMENS Energy, an operator in the Nigerian energy sector said that its efforts to strengthen the activities in ocean power generation has resulted in an increase in its stakes in ocean power specialist Marine Current Turbines, MCT, to 45 percent.

According to a statement issued by Siemens in Nigeria and made available to Vanguard, Michael Axmann, Chief Financial Officer of the newly founded Solar and Hydro Division within Siemens Energy Sector, said that the increase is to shape the commercialization process of innovative marine current power plants.

Andrew Tyler, Chief Executive Officer of MCT, stated that “Through the expansion of the partnership with Siemens, we have further strengthened our position in the tidal energy market. We have the increased backing of a major industrial player in Siemens, which is essential to support the commercialization of our proven technology.”

“We are about to approach investors to secure funding for our first two tidal array projects, and Siemens’ increased investment as well as UK Government support should give investors the confidence that we have the necessary backing and support to deliver these crucial projects and the ones to follow.” He stated.

Tyler explained that “MCT has already successfully implemented its first commercial-scale demonstrator project SeaGen in Strangford Lough in Northern Ireland. Since November 2008, two axial turbines with a combined capacity of 1.2 MW have been feeding power into the grid to supply about 1500 homes. SeaGen has fed over 2.7 GWh of electricity into the grid. This project has thus produced the largest amount of electricity in the whole marine current power sector.”

He also explained that “marine current turbines generate electricity by utilizing tidal current flows.

Flow of the tides

The SeaGen turbine is fixed on a structure and is driven by the flow of the tides, with a key advantage that the generated power is precisely predictable in the tidal cycle. This technology is effectively similar to a wind turbine, with the rotor blades driven not by wind power but by tidal currents.”

Speaking further, he noted that, “marine current turbines are part of Siemens’ environmental Portfolio. In fiscal 2010, revenue from the Portfolio totaled about EUR28 billion, making Siemens the world’s largest supplier of eco friendly technologies. In the same period, our products and solutions enabled customers to reduce their carbon dioxide, CO2, emissions by 270 million tons.”

Tyler however noted that, Siemens had acquired a minor stake in the Bristol-based company and thus entered the marine tidal current sector. He added that Ocean power is emerging with strong growth rates driven by global CO2 reduction commitments.

He therefore said that until 2020, experts anticipate double-digit growth rates for the ocean power business, adding that, based on further estimates; the global potential for power generation using tidal power plants is 800 terawatt-hours per annum.