Tocardo, Repsol form offshore tidal energy alliance
Water turbines manufacturer Tocardo International has formed an alliance with Spanish company Repsol to develop offshore tidal energy.
The alliance will combine Torcado and Repsol's strengths in tidal and river free flow water turbines and access to the global energy markets, respectively.
Tocardo CEO Hans van Breugel remarked that the agreement with Repsol will help the company strengthen its offerings to its consumers.
"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," said Breugel.
The company had earlier forged an alliance with offshore engineering company Huisman Equipment further enhancing its capability to deliver on turnkey tidal energy projects.
Repsol has carved a new business unit to explore renewable energy opportunities and will work with Tocardo to achieve its objectives.