Turbine producer Tocardo International and integrated energy company Repsol have entered into a partnership to develop offshore tidal energy.
As part of the partnership deal, Tocardo can further accelerate the development of its off-shore engineering capabilities using Repsol’s knowledge of the energy industry and will be able to tap into many of the fledgling renewable energy markets that Repsol has identified.
Repsol is Spain’s largest industry conglomerate. It is currently one of the biggest oil and gas providers in the world. It has up to 1200MW of offshore wind concessions in the UK and is a partner in WindPlus/Principle Power floating offshore wind foundation.
Commenting said: "This is an important milestone for Tocardo; access to the knowledge base of one of the world’s leading energy providers will strengthen our offering to the market," said Hans van Breugel, CEO of Tocardo. "Repsol’s market knowledge combined with Tocardo’s technical capabilities will create a strong mutual strategic partnership. Having recently reached the full commercialization of the building and marketing of our smaller turbine, this partnership will help us to scale up our business and gain advantage in this fast-moving sector."
Íñigo Palacio Prada, Energy Ventures Manager at Repsol added: "The Repsol’s New Energy business unit was specifically created to identify opportunities, promote projects and develop initiatives in renewable and bioenergy. This partnership with Tocardo fits perfectly within this framework."