Alderney's joint venture to use tidal power for electricity
Alderney Electricity has entered a decarbonisation agreement which will see the use of tidal power to diversify the island's power supply.
The joint venture with SIMEC Atlantis will see a tidal site built in the Raz Blanchard off the coast of Normandy in France.
At present, the island is entirely powered by its own diesel power plant.
Managing director of Alderney Electricity, James Lancaster, said it was a "great opportunity".
"Alderney's economy has struggled in recent years but things are turning around fast; the place has a real buzz about it, so this news could not come at a better time," he said.
SIMEC Atlantis said it would take up to three years before the project would start producing electricity, but it hoped it would help "unlock economic potential" for the island.
Under an agreement with Simec Atlantis' Normandie Hydroliennes joint venture, Alderney Electricity will enter into a 25-year power purchase agreement to buy 5GWh of electricity per year from Normandie Hydroliennes at a fixed, undisclosed price.
Simec Atlantis said it was also assessing options to ensure the island's electricity needs were met during slack tide periods when tidal turbines would not be generating power.