The new business intends to install a fully grid connected 4MW tidal array in the Bay of Fundy in 2015.
The turbines being deployed in the Bay of Fundy are the latest evolution of OpenHydro’s 16m, 2MW Open-Centre Turbines, which will be built locally in Dartmouth, Nova Scotia in partnership with Irving Shipbuilding.
DCNS Energies & Marine Infrastructure senior vice president and OpenHydro chairman Thierry Kalanquin said: "Cape Sharp Tidal has the potential in 2015to deliver one of the first, multi MW, multi turbine tidal arrays in the world."
Irving Shipbuilding president Kevin McCoy said: "We are now in the preparation stage, working closely with OpenHydro to firm up the plans for fabrication and mobilization."
The project, which will be developed in phases, aims to develop up to a 300MW commercial tidal array to supply clean, renewable energy to over 75,000 customers.
