Tidal Today: Project Finance Forms Key Theme in Tidal Collaboration Meeting

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One of the key challenges for device developers looking to commission commercial tidal array installations is securing project finance. In many cases, the challenges stems from the project risk perceived by potential investors. With limited initial funding available, how can developers fundamentally prove commercial scale tidal technology to build a bankable project application? This catch-22 arguably underpins much of the development throughout the industry, save the handful of developers that have secured major industrial support.

There is no simple answer – as demonstrated by other early-stage renewable power sources. However, while conventional finance appears unattainable to many potential project developers, there are unconventional funding sources that may be more accessible. Despite tidal energy being too nascent to pique the interest of venture capitalist funding, joint-venture partners and angel investors are perceived to have an increasingly important role in the future funding of tidal power projects. The question will be – to what extent will device developers have to prove their technology is commercially viable, and how will they do this?

These issues will form a key part of the discussion at the upcoming 6th International Tidal Energy Summit (28-29 Nov. London). Central to the Summit this year is an exclusive commercial finance panel discussion, focusing on the considerations of mainstream financial institutions and alternative financing models for developers. Moderated by Jonathan Riley, Head of Commerce and Technology at Lawrence Graham LLP, panellists include Girish Nadkarni, Managing Director of ABB Technology Ventures and Alberto Jochems, the Managing Director of Giraffe Green Energy Bankers, making this a crucial discussion for device developers as well as service providers and manufacturers.

For more information on the 6th International Tidal Energy Summit #ITES2012 (28-29 Nov. London) visit http://www.tidaltoday.com/tidal-conference

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Will Broad
Tidal Today
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