05 Dec '14, 4pm

Marine Power May Suffer More Casualties After Siemens Tidal Sale

Only a few companies remain with financial backing and promising projects , and more casualties are likely, said Angus McCrone, senior analyst at London-based researcher Bloomberg New Energy Finance. Already the top 20 wave and tidal-stream businesses have amassed losses of $903 million over their lifetimes, according to BNEF data. “This is the capitalist survival-of-the-fittest process working as normal in any new market area,” McCrone said by e- mail. “It also reflects the fact that venture capital investors have become much more realistic about the difficulties involved in proving a new power technology in the harsh environment of the sea.” As other renewables such as solar and wind have reduced cost to become commercially viable, waves and tides remain the most expensive sources of power, costing four times more than coal, BNEF estimates. The group revised down its 202...

Full article: http://www.renewableenergyworld.com/rea/news/article/2014...

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