Eco Factor: Renewable energy agreement between Aquamarine Power Ltd and Airtricity.
Edinburgh-based energy firm Aquamarine Power Ltd. has signed an agreement with Airtricity to develop marine energy projects for both the UK and Ireland, which would total at 1000MW by 2020. Under the agreement the two companies will enter into a 50:50 joint venture and work on the development of the first two sites has already commenced.
The agreement is being touted as the biggest deal in the history of marine energy, though the official details of the agreement and the cost have not been stated.
The Dark Side:
The cost of the project has not been stated and the effects it will have on the electricity bills of the end consumer are also to be considered.
Via: Aquamarine Power [Press Release]
