Irish tidal renewable energy company OpenHydro has been awarded a grant of €2m from Sustainable Energy Ireland (SEI).

The grant, provided under the Ocean Energy Prototype Research & Development Programme, will support the design and development of OpenHydro's next generation 16m Open-Centre Turbine, Subsea Base and Installation Barge used in the deployment of OpenHydro’s technology.

The €10m Prototype Development Fund is administered by SEI’s Ocean Energy Development Unit and is aimed at supporting industry-led projects that stimulate the development and installation of ocean energy devices and systems and engage in valued research projects.

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The fund is part of the government’s National Strategy for Ocean Energy aimed at introducing ocean energy into the renewables portfolio in Ireland.

James Ives, Chief Executive at OpenHydro said: "We are absolutely delighted to be awarded such a significant grant.

"On behalf of all my colleagues at OpenHydro, I would like to express our thanks to Minister Eamon Ryan and his Department, Sustainable Energy Ireland and the team at the Ocean Energy Development Unit for their continued support of OpenHydro."

OpenHydro recently shipped a 10m (1MW rated) Open-Centre Turbine from its Technical Centre on the shores of Carlingford Lough to the Bay of Fundy in Canada for leading utility company, Nova Scotia Power.

The delivery is part of a multi million euro contract OpenHydro has with Nova Scotia Power.

(PR/KMcA)