Alstom to buy Rolls Royce tidal energy business
TGL designs, develops and manufactures tidal stream turbines that capture and convert the energy of tidal streams to generate electrical power
Paris, September 25, 2012 — Alstom signed an agreement with Rolls-Royce to acquire Tidal Generation Limited, a unit of Rolls-Royce, specialized in the design and manufacture of tidal stream turbines. Alstom's acquisition of TGL is expected to be completed within the next few months, subject to closing conditions.
TGL designs, develops and manufactures tidal stream turbines that capture and convert the energy of tidal streams to generate electrical power.
TGL's first 500 kWe unit was successfully installed at the European Marine Energy Centre (EMEC) at Orkney in Scotland. It generated and fed into the grid over 250 MWh of electricity — enough power to supply the equivalent of 300 homes — averaging 12 hours of operation each day.
This acquisition gives Alstom the opportunity to build a complete portfolio of tidal products and technologies which is necessary to cover the wide range of site conditions and to meet all customer needs.
TGL, which is based in Bristol, U.K. and employs 29 people, will benefit from Alstom's experience in the energy industry, global presence and integrated offer including power generation and transmission.