USTDA Provides Funding for Verdant Power Feasibility Study in Turkey
(March 2014) -- The U.S. Trade and Development Agency (USTDA) has awarded a first of its kind grant to study the technical and financial feasibility of installing a Verdant Power KHPS downstream of the Seyhan hydropower plant, located near the city of Adana, Turkey. The $669,875 grant is the USTDA’s first to explore the exportation of Marine and Hydrokinetic (MHK) power systems, which convert the energy of free-flowing water currents into electricity.
A leader in the U.S. MHK industry, Verdant Power will work with Turkey’s largest power generation company, the Electricity Generation Company (EUAŞ), on the project, which would result in additional power generation from free-flowing currents downstream of the existing plant. Verdant Power has successfully demonstrated its KHPS technology in the East River of New York City through the RITE Project.
Ko-Tech, a global business consulting firm with extensive experience and in-country partners, will support international operations, supply-chain logistics for the project and other upcoming projects in Turkey. “Ko-Tech is proud to partner with Verdant Power to bring such promising technology to Turkey,” said Koray Kotan, Managing Director of Ko-Tech.
“Verdant Power is incredibly excited about the prospects of this effort,” stated Trey Taylor, co-founder of Verdant Power. “Not only does it support clean energy development internationally, but it establishes a model for the global export of US-based MHK technologies and expertise. We look forward to working with USTDA on this initiative in Turkey, and hopefully many more like it around the world.”
If ultimately installed, this project will provide an anticipated $32.5 million in opportunities for U.S. MHK power developers in manufacturing equipment and services, such as turbines and substations, installation, engineering and design.
“USTDA is pleased to support Turkey’s efforts to augment its clean and renewable resource development, supplementing its dependence on fossil fuel power sources,” said USTDA Regional Director Carl B. Kress. “The cutting-edge U.S. hydrokinetic technology, which will be evaluated for the Seyhan plant, demonstrates Turkey’s leadership in exploring new clean energy sources. This important project will serve as a model for other important markets in the region and around the world.”
Verdant Power’s KHPS is a modular system with turbines that can be scaled to a range of sizes and arrayed in various configurations, allowing for broad application in tidal, river or channel settings. The KHPS has been advanced to a 5th Generation commercial-class system through support from the New York State Energy Research and Development Authority (NYSERDA), the US Department of Energy and its national laboratories, and Con Edison of New York, among others.
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