Hon. Chief Minister Modi approves historic 50MW tidal current power project
Gandhinagar, Gujarat, India – 12th January 2011: The Right Honourable Chief Minister of Gujarat, Narendra Modi, has taken a further step today in proving his renewable energy and sustainable economic growth credentials by approving a 50MW tidal power project to be constructed in the Gulf of Kutch in the Indian State of Gujarat. The ceremony was also attended by Minister of State, the Honorable Saurabhbhai Patel.
The MoU was signed as part of the Vibrant Gujarat Summit 2011, coined ‘Davos in Action’ by organizers, which is attended by world leaders, leading business figure heads and dignitaries from over 70 countries.
The State of Gujarat has agreed terms with marine energy developer Atlantis Resources Corporation who will partner with Gujarat Power Corporation Limited on the landmark project that could commence construction as early as 2011. A total of 250MW of future tidal power development was agreed under the terms of the MoU.
Atlantis recently conducted an economic and technical study of prime sites in the Gulf of Kutch where as much as 300MW of economically extractable tidal power resource was discovered. The project company will also conduct investigations into the ability to combine the offshore wind resource in the Gulf with the proven tidal current resource to assess the feasibility of a mega marine power project.
The project team will now begin work on an initial 50MW project which could be scaled-up to more than 200MW of installed capacity. The project will require hundreds of millions of dollars of investment in tidal turbines, associated power export infrastructure and the development of a local supply chain and will lead to the creation of hundreds of jobs in the region.
Atlantis Resources is recognised as one of the leading players in the global marine energy industry and recently revealed plans to develop one of the world’s largest marine power projects in the United Kingdom using its new 1MW AK1000 tidal power turbine.
Commenting on the announcement, Atlantis Resources CEO Tim Cornelius said: “This is not only exciting for Gujarat and India – this is a land mark project for Asia. Chief Minister Modi has once again demonstrated his commitment to using clean, renewable sources of energy generation as a source of economic stimulus and job creation. We are honoured and excited to be partnering with GPCL on such an important and historic project. We must also recognise the support and vision of the Honourable Minister of State, Mr Saurabhbhai Patel, for his commitment to the support of renewable energy technologies in the State of Gujarat. ”
Mr D.J Pandian, Chairman and Managing Director of Gujarat Power Corporation Limited, commented that: “Gujarat has significant resource in the waters of its coast, so tidal energy represents a huge opportunity for us. This project will be India’s and indeed Asia’s first at commercial scale and will deliver important economic and environmental benefits for the region, as well as paving the way for similar developments within Gujarat.”
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Atlantis Resources Corporation is an international developer of tidal current turbines with offices in United Kingdom, Singapore and Australia. Atlantis is an ‘end to end’ marine power project Company offering the tidal turbine technologies and resource assessment services to utilities and power companies worldwide.