Akuo Energy seeks EIB funds for 16-MW OTEC project

French renewables firm Akuo Energy SAS has asked the European Investment Bank (EIB) for funds to implement the 16-MW ocean thermal energy conversion (OTEC) project off Martinique referred to as NEMO.

According to information on EIB’s website, the financing request has been under appraisal by the bank since June 27, 2016. EIB has not disclosed the sum Akuo Energy is seeking or the estimated total cost of the development.

The project, to be carried out off the west coast of the Caribbean island, envisages deploying a floating barge to host an OTEC system. At present, the scheme is going through a multi-annual research programme aimed at improving general knowledge of potential impacts identified in prior studies in connection with the mandatory environmental impact assessment (EIA). The results will be announced this year.

Akuo Energy is working together with DCNS on the project.

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