OceanBased Perpetual Energy, led by Saudi entrepreneur Nasser MN Alshemaimry, inks deal to assist in developing the world’s largest commercial ocean current energy project

Published by: Al Bilad

OceanBased Perpetual Energy, led by Saudi entrepreneur Nasser MN Alshemaimry, has signed a memorandum of understanding to assist in developing the world’s largest commercial ocean current energy project.

The deal has been signed with Florida Atlantic University’s Southeast National Marine Renewable Energy Centre (SNMREC) to focus on an area off the southeast coast of Florida, with the aim of installing hundreds of megawatts of ocean current generating equipment.

The equipment is planned to be installed below the sea surface, below the deepest drafts of any seagoing vessels, and connected to the US transmission system.

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