Cape Sharp Tidal Awards Another Major Contract to Nova Scotia Company

HALIFAX, June 15, 2015 /CNW/ - A third Nova Scotia company has secured a multi-million dollar contract with the Cape Sharp Tidal project, which has potential to be the first grid-connected tidal array in the world.

"This contract with Hawboldt is a great example of the positive benefits this project can bring to local companies."

Hawboldt Industries of Chester, Nova Scotia has been awarded a $4.7-million contract for the design and manufacturing of three heavy lift winches to be used on the OpenHydro deployment and recovery barge. Cape Sharp Tidal is a partnership between OpenHydro – a DCNS company – and Emera Inc. to develop a tidal industry in Nova Scotia.

"We're pleased to award another contract to a Nova Scotia company after a competitive tender," said James Ives, OpenHydro Chief Executive. "We're developing local expertise here, which will be crucial as we move into larger projects and lay the foundations of a tidal industry."

"Not only does this project offer clean, renewable tidal energy to Nova Scotians but we're committed to at least 70 per cent of project costs awarded locally," said Emera President and CEO Chris Huskilson. "This contract with Hawboldt is a great example of the positive benefits this project can bring to local companies."

OpenHydro has extensive experience using this winch technology in turbine installations. It was first safely and successfully used in the Bay of Fundy in 2009, as well as in subsequent turbine deployments throughout Europe.

"This is an important opportunity for our business," said Hawboldt Industries General Manager, John Huxtable. "Cape Sharp Tidal is a major project for our region and we're happy our local expertise will be right there on the water as part of it."

In its first phase, Cape Sharp Tidal will deploy two, 2MW, grid-connected turbines off Parrsboro, NS later this year. The project aims to progress in phases toward a 300MW, commercial scale industry in the 2020's.

In May, Cape Sharp Tidal announced $25 million in contracts awarded to Aecon Group Inc. and Lengkeek Vessel Engineering. Aecon will fabricate turbine components and manufacture the barge at its facilities in both Dartmouth and Pictou County, NS. Lengkeek, based in Dartmouth, NS, earned the contract for barge design.

About Cape Sharp Tidal Venture
Cape Sharp Tidal is a joint venture between Emera Inc. and OpenHydro, a DCNS company, with the objective of deploying a fully grid connected 4MW tidal array in the Bay of Fundy in 2015. This project has the potential to be one of the world's first multi-megawatt arrays of interconnected tidal turbines, providing energy to over 1,000 customers in Nova Scotia.

About OpenHydro
OpenHydro is a DCNS company specialising in the design, manufacture and installation of marine turbines generating renewable energy from tidal streams. The company's vision is to deploy turbine arrays under the surface of the oceans to produce energy silently, invisibly and with no impact on the environment. OpenHydro has achieved a number of industry firsts including being the first to deploy a tidal turbine at the European Marine Energy Centre (EMEC), the first to connect to and generate electricity from tidal streams onto the UK National Grid and the first to successfully demonstrate a method of safely and economically deploying and recovering turbines directly on the seabed. The deployment and recovery method delivers a step change in the economics of tidal energy.

OpenHydro has a project portfolio spanning Canada, France, Northern Ireland, Scotland and the Channel Islands with utility partners including Emera, EDF, Brookfield Renewable Energy Group, SSE Renewables and Alderney Renewable Energy. OpenHydro has won a number of awards for its innovations in the field of renewable energy technology.

About Emera
Emera Inc. is geographically diverse energy and services company headquartered in Halifax, Nova Scotia with $10.19 billion in assets and 2014 revenues of $2.97 billion. The company invests in electricity generation, transmission and distribution, as well as gas transmission and utility energy services. Emera's strategy is focused on the transformation of the electricity industry to cleaner generation and the delivery of that clean energy to market. Emera has investments throughout northeastern North America, and in four Caribbean countries. Emera continues to target having 75-85% of its adjusted earnings come from rate-regulated businesses. Emera common and preferred shares are listed on the Toronto Stock Exchange and trade under the symbols EMA, EMA.PR.A, EMA.PR.C, EMA.PR.E, and EMA.PR.F. Additional Information can be accessed at www.emera.com  or at www.sedar.com.

About Hawboldt Industries
Hawboldt Industries combines more than a century of service to marine industries with today's best in integrated design and manufacturing capabilities to deliver innovative engineered solutions for line-handling and lifting applications.

From trawling nets to oceanographic survey equipment, Hawboldt is a preferred source for the specialized winch systems, reels, windlasses, capstans that drive the efficiency and productivity of critical ocean-based technologies today. Hawboldt is also a leading manufacturer of propellers, also providing complete repairs and onsite service.
The seas connect all markets worldwide, and this is reflected the range of customers we serve. Hawboldt products are at work everywhere from the Antarctic to the Grand Banks to the inland waterways of America. Our traditional products for fisheries and shipbuilding are now joined by advanced projects in national defense, offshore oil & gas and undersea research.

About DCNS
DCNS is a world leader in naval defence and an innovative player in energy. The Group's success as an advanced technology company with global reach is built on meeting customer needs by deploying exceptional know-how, unique industrial resources and an ability to develop innovative strategic partnerships. DCNS designs and builds submarines and surface combatants, develops associated systems and infrastructure, and offers a full range of services to naval bases and shipyards. The Group has also expanded its focus into marine renewable energy. Aware of its corporate social responsibilities, DCNS is a member of the United Nations Global Compact. The DCNS Group generates annual revenues of €3.1 billion and employs 13130 people (2014 data). www.dcnsgroup.com

SOURCE Cape Sharp Tidal

Cape Sharp Tidal, Sarah Dawson, 902-471-4497, Community Relations Manager, Tidal, [email protected]