Bord Gáis to invest €2m in tidal energy farm project

BORD Gáis Energy (BGE) is to invest up to €2 million in the Irish tidal renewable energy company, OpenHydro, to develop a largescale tidal farm off the coast.

BGE has invested €1m in the group to be followed later by a further capital injection of €1m, provided certain technical targets are achieved by the group in the meantime.

OpenHydro is involved in the design and manufacture of marine turbines for generating renewable energy from tidal streams.