UK Government Gives Funding To Blue H Floating Wind Turbine Project-Co
15 January 2009 - 2:33AM
Dow Jones News
Project Deepwater Turbine, a consortium led by Blue H including
BAE Systems PLC (BA.LN), EDF Energy, CEFAS, SLP Energy and Romax,
has been selected by the Energy Technology Institute, or ETI, as
one of the first projects to receive funds from its GBP1.1 billion
initiative.
The U.K.-based project aims to develop an integrated solution
for a 5-megawatt floating turbine deployed offshore in waters
between 30 and 300 meters deep.
Project Deepwater Turbine aims to reduce the cost of electricity
generation to a level competitive with other forms of energy by
simplifying the design and reducing construction, installation and
maintenance costs of the wind turbines.
The Blue H consortium is one of three offshore wind consortia to
receive funding from the ETI, a partnership between the U.K.
government and BP PLC (BP.LN), Caterpillar Inc (CAT), Electricite
de France SA (1024251.FR), E.ON AG (EOA.XE), Rolls Royce Group PLC
(RYCEY) and Royal Dutch Shell PLC (RDSB.LN).
"This ETI award represents another important milestone for our
company in developing and completing its technical footprint," Blue
H Chief Executive Neal Bastick said.
Blue H installed the world's first floating wind turbine
prototype in the summer of 2008. The company is currently building
the first operational 2 MW unit, which it expects to deploy
offshore Italy this year.
The U.K. government is counting on the installation of 33
gigawatts of offshore wind power to help meet a binding European
union target on renewable energy use and a reduction in greenhouse
gas emissions by 2020.
-By Selina Williams, Dow Jones Newswires +44 207 842 9262;
selina.williams@dowjones.com
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