French renewables player Akuo Energy has applied to the European Investment Bank for funding for a floating barge for its Nemo ocean thermal energy conversion (OTEC) system off the coast of Martinique.
No details were made available regarding the size of the loan or the total cost of the project.
The EIB said relevant studies for the project’s environmental impact assessment have been undertaken and the documentation has been submitted to the competent authorities.
It said the studies identified several impacts including proposals for mitigation.
“A multi-annual research programme is ongoing since 2013 to improve general knowledge of these impacts, with results expected in 2016, ” the bank said.
The bank said Akuo could also be subject to EU public procurement procedures, depending on the process of awarding the power purchase agreement (PPA) to the project.
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