Partners will combine expertise to ‘drive rapid scale up’ of installed capacity in the UK and France [Image: Nova Innovation]
Nova Innovation and Sabella have signed a memorandum of understanding (MoU) to “accelerate development” of tidal energy sites the companies are developing.
Under the MoU the partners will combine expertise to “drive rapid scale up” of installed capacity in the tidal energy sector in both the UK and France.
The alliance will include cooperation across French and UK sites, to “drive down costs, catalyse opportunities for funding, and deliver economies of scale to tackle the climate emergency”.
Sabella CEO Fanch Le Bris said: “We welcome this MoU between SABELLA and Nova Innovation, and we can already see significant benefits from our teams working together to build capacity for tidal energy across France and the UK and making tidal energy a commercial reality.”
Simon Forrest, CEO of Nova Innovation, added: “We are delighted to formalise our cooperation with SABELLA on site development of projects in France and the UK.
“Following a similar evolution to the commercialisation of the wind sector, this MoU creates a pathway to accelerate delivery of larger, high-impact projects to take tidal energy mainstream.”
The move sends a strong positive signal to investors, the European Commission and stakeholders in the tidal energy sector.
Michael Matheson, Cabinet Secretary for Net Zero and Energy in the Scottish Government, said: “Nova Innovation is a pioneer in tidal energy technology and the Scottish Government is proud to have played a supporting role in its achievements to date.
“I welcome this agreement between Nova and SABELLA and I look forward to it delivering further opportunities for both companies, along with the wider sector, to grow, develop and realise the potential that tidal energy has in our journey to net zero.”