North Wales Tidal Energy will be commissioning and coordinating numerous research and development undertakings to study the potential of tidal energy activities along the coast, reports renewable energy focus.com.
The company will promote integrated schemes to provide sustainable renewable energy in addition to a defense mechanism against coastal flooding.
As reserves of fossil fuels dwindle in the coming years, the need to deploy large scale renewable generation technology will increase substantially. To provide the reliable electricity generation that can meet the future needs of our society, we must seek to harness tidal power, said, Eryl Vaughan, chief executive, North Wales Tidal Energy.
This is a major infrastructure project being addressed, with benefits here in North Wales and beyond. Major portion of the project is focused on gaining a better understanding of the complex natural and marine environment along and outward from the shoreline, added Vaughan.
The company is owned and managed by local North Wales business people, determines that the region receive the advantage of significant employment potential of the project.
In order to achieve this aim, company is designing its finances to help community from profits and potentially use funds for investment in local projects.
North Wales Tidal Energy & Coastal Protection will be launched officially at Porth Eirias at the end of October.