DCNS has announced it is to increase its stake in marine turbine developer OpenHydro from 11% to 59.7%, as part of its future sales growth plans.
Under the terms of the deal OpenHydro will retain its team and its brand, and will benefit from the experience and the competencies of DCNS.
OpenHydro is currently trialling turbines in various areas in Europe and in North America. It is now working, for example, with EDF on the installation of turbines at Paimpol-Bréhat (Brittany) and with SSE Renewables to install turbines in the Pentland Firth (Scotland).
"This operation is a practical implementation of our ambition in marine renewable energy, which is one of DCNS’ development priorities for the coming decades," commented Patrick Boissier, Chairman & CEO of DCNS. "Taking control of a start-up in another country and in the energy sector demonstrates the magnitude of the transformation put into effect by our Group since the launch of our growth plan three years ago. We are excited that we will soon see the teams from OpenHydro join DCNS to contribute with us to sustainably developing the oceans’ potential."