Turbine trouble for Openhydro

The company has been testing its turbine in the Bay of Fundy, Nova Scotia, Canada, in partnership with local operator Nova Scotia Power, part of Canadian utility Emera.

It discovered recently a number of the turbineÂ’s blades were missing. As a result, it has decided to remove it from the test bed next autumn, a year ahead of schedule, and to carry out an analysis.

The company’s backers include Philip Lynch’s investment vehicle, One51. Openhydro is in the process of raising €15 million, and has already raised €52 million from its investors.

The company is playing down the impact of the damage on its plans, and says the removal of the prototype it is an opportunity to learn more about its system.

“Following recovery, a detailed engineering analysis of the unit will provide valuable technical information about any damage, either related to the site conditions or the turbine itself,” Openhydro said.

OpenhydroÂ’s system operates in a similar fashion to hydroelectric electricity generators. Tidal currents drive a turbine that uses the energy to generate electricity.

Marine and tidal power are seen in the energy industry as the next big thing. InvestorsÂ’ enthusiasm for these systems, combined with market supports for green energy in most developed economies, means that anyone who makes a breakthrough in this field is looking at potentially lucrative returns.

Openhydro is focused on tidal power, which requires sites with strong tidal currents. There are only a limited number of suitable locations in the world.