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January 24, 2012 – Vol.16 No.45 Verdant Power Receives FERC License for NYC Tidal Energy Project. The U.S. Federal Energy Regulatory Commission (FERC) has issued a Pilot commercial license to construct, operate, and maintain Verdant Power's Roosevelt Island Tidal Energy (RITE) Project in the East Channel of the East River in New York City. The RITE Project will use the natural tidal currents of the East River to generate up to 1 megawatt (MW) of emission-free electricity in a three-staged development approach, beginning in 2013. The RITE pilot project is estimated to have an annual generation of 2.4 gigawatt-hours (GWh) after the completion of Phase 3. Verdant Power, will install its 5th Generation Free Flow System, an updated version of the technology previously demonstrated in the East River. Verdant Power's license application was submitted under FERC's Hydrokinetic Pilot Project Licensing Process, developed to allow for the advancement of U.S. hydrokinetic technologies (tidal, river, wave power), while maintaining FERC oversight and agency input. FERC's issuance of the license for the RITE Project is based on its analysis of a variety of monitoring measures proposed by Verdant Power that protect and enhance fish, wildlife, recreational, public safety, cultural, and aesthetic resources at the project. According to the Ocean Renewable Energy Coalition, a trade organization for the U.S. marine and hydrokinetic energy industry, the potential for such projects is up to 3,000 MW of installed capacity by 2025 - enough to power more than three million homes. The Ocean Energy Council estimates the global potential for tidal power exceeds 63,000 MW. The licensing is the culmination of years of technology advancement beginning in 2002 with prototype system testing, and initial RITE project consultations. During 2006-08, Verdant Power demonstrated a full-scale grid-connected Free Flow System at the project, successfully delivering energy to operating businesses in New York City. Verdant Power also conducted environmental monitoring of the Free Flow System during the RITE demonstration, developing significant environmental data. Since its inception, the RITE Project has received major support from the New York State Energy Research and Development Authority (NYSERDA). Other project funding has been received from the New York City Economic Development Corporation and the U.S. Department of Energy.
Founded in 2000, Verdant Power, Inc. is a systems innovator, integrator, and project developer that utilizes simple and scalable technologies to generate utility and village scale electric power from natural underwater currents found in rivers, tides, ocean streams and manmade channels. With its 5th Generation System, Verdant Power has developed a commercial standard system that will be tailored to sites. In addition to delivering affordable and emission-free electricity, Verdant Power systems can be adapted to develop other community-based services, such as desalinization and potable water. Headquartered in New York, Verdant Power is incorporated in Canada, the UK and Hong Kong. (1/23/12) Links: Verdant Power The Roosevelt Island Tidal Energy Project (RITE) Ocean Renewable Energy Coalition
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release:No
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