French tidal energy company Normandie Hydroliennes’ NH1 tidal project has been selected as a winner of the European Union’s 2023 Innovation Fund and will receive €31.3 million in funding to accelerate the development and deployment of its system.
Normandie Hydorliennes’ 12 megawatt (MW) NH1 tidal energy pilot farm will operate 4 AR3000 horizontal axis turbines that are expected to produce 34 gigawatt hours (GWh) per year of sustainable and predictable energy to the French grid.
The company is developing the NH1 tidal energy pilot farm with the support of EFINOR, Proteus Marine Renewables, and Normandie Participations, the Normandy region’s investment fund, which supports regional start-ups and SMEs through financing, facilities and advisory services.
The European Commission’s €4.8 billion Innovation Fund 2023 is one of the world’s largest funding programs for the demonstration of innovative low-carbon technologies. The projects supported were assessed on 5 criteria: GHG reduction potential; degree of innovation; technological, financial and operational readiness, replicability; and economic profitability. It aims to bring to market industrial solutions to decarbonize Europe and support its transition to climate neutrality.
