Verdant Power and Ireland’s Belleville Duggan Renewables have partnered to establish Verdant Isles – a joint venture to develop tidal energy projects in Ireland and the UK.

Sustainable Energy Authority Ireland (SEAI) studies have demonstrated tidal current energy’s potential in Ireland as an economic driver and source of clean energy.

SEAI has projected "viable" tidal current energy resources of some 900 GWh per year to be developed in Irish waters. Verdant Isles expects to be in the vanguard in meaningfully leveraging this resource.

Development of just half of this would mean an investment of more than €150 million, plus the potential to create up to 250 Irish jobs in the resulting global supply chain.

Ireland plans to be at the forefront of this development, particularly because of the natural energy resources the country has available. In parallel with developing sites in Ireland and the UK, Verdant Isles plans to establish a manufacturing base in the region that will become part of a global supply chain for marine energy devices.

Further research also into Ireland’s accessible energy resources will be an integral part of the joint venture. With these combined capacities, Verdant Isles represents an opportunity to further propel Ireland as a leader in the deployment of tidal and marine renewable energy projects.

Bellville Duggan Renewables John Gleeson said: "Our goal is to become one of the leading project developers in the clean-tech sector"

"To achieve this, we need to be aligned with technology developers at the forefront of their respective areas.

"Belleville Duggan Renewables is excited to announce the establishment of Verdant Isles as a partnership with Verdant Power – a world leader in the design and application of marine energy solutions."

Verdant Power co-founder Trey Taylor said: "The establishment of Verdant Isles allows Verdant Power to develop opportunities in Ireland and the UK by partnering with a locally-based EPC renewable energy contractor and developer with whom the company has established a strong working relationship."