EDF Energies Nouvelles, the renewable energy subsidiary of energy giant EDF, has announced it is to plough £3m into UK-based Renewables Energy Holdings (REH) as part of a deal that will give it unique access to the company's wave power technology.
Under the terms of the collaboration agreement, EDF EN will be granted exclusive rights to develop wave power projects in the northern hemisphere and at Reunion Island in the Indian ocean using REH's CETO technology.
The proprietary device is installed on the seabed and produces either electricity or fresh water by carrying high-pressure seawater ashore through a small-diameter pipe to a turbine or a reverse osmosis filter.
The deal, which follows a partnership agreement announced last summer, will see EDF EN control a stake of between 51 and 75 per cent in future CETO projects.
"We are very pleased indeed to have concluded our CETO collaboration agreement with EDF EN and we look forward to working with them to develop CETO wave power projects across the northern hemisphere," he added.
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