Latest failure: Energy firm fails in its bid to generate power from the Bay of Fundy
Global News
The Nova Scotia government confirmed today that Occurrent, formerly BigMoon Power, is filing for insolvency because it can't pay its bills.
Another energy company has failed in its bid to develop tidal power from the Bay of Fundy.
The Nova Scotia government confirmed today that Occurrent, formerly BigMoon Power, is filing for insolvency because it can’t pay its bills.
Last year, Sustainable Marine Energy — based in the United Kingdom — also failed, with estimated losses of more than $30 million.
Patricia Jreige, a spokeswoman for the province’s Natural Resources Department, says Occurrent’s collapse is “a concern for our tidal industry,” but she says the province remains open to considering other tidal-power projects.
Colin Sproul, president of the Bay of Fundy Inshore Fishermen’s Association, says he wants to know when the anchors that were to be used for Occurrent’s project — four submerged rail cars filled with concrete — will be removed from the floor of the bay.
The province says it holds security for the cleanup of what it refers to as “temporary gravel pads” on underwater Crown lands in the bay’s Minas Basin.
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