Clarence Strait Tidal Energy Project and Tidal Test Centre
Location: Clarence Strait, Northern Territory, Australia
Project proponent: Tenax Energy Ptd Ltd (Tenax Energy)
Investment type: Equity in Tenax Energy, equity in a Special Purpose Vehicle established for the project, corporate bond, partnership (either financial or management), or joint venture
Estimated total project cost: In the range of AU$30-40 million. However, costs are difficult to estimate until the baseline environmental studies and front end engineering and design are completed
Investment amount sought: Tenax Energy will source a mixture of equity and debt to complete the project and may need to fund as much as 20% of the pilot project with equity, depending on the availability of government support, the ability of the industry to provide vendor finance and the types of debt funding available, particularly locally issued corporate bonds
Project status: Proposed
Tidal energy is considered to be highly predictable because tide timing and intensity can be estimated with exceptional accuracy many years in advance. Tenax Energy recognises the global potential of harnessing tidal and ocean flows through innovative technologies as a sustainable source of clean and renewable energy. The company is identifying, packaging, and developing tidal energy generation projects across Australia and in the Asia-Pacific region.
Tenax Energy’s tidal energy project in the Northern Territory has two stages.
Stage 1 - establish a tropical tidal research and testing facility in the Darwin area, supported by a 10 Megawatt pilot project, as a cornerstone of innovation and knowledge in the tidal energy sector.
Stage 2 - construct a world-leading 100 Megawatt-plus tidal array by 2020, expanding later to 456 Megawatt capacity.
Tenax Energy seeks to leverage the intellectual property that will be gained through stage 1 into the development of tidal generation facilities throughout the Asia-Pacific region from the Darwin base.
The potential to expand to other locations in the Asia-Pacific will present significant commercial opportunities for attracting project partners to the NT and providing skilled employment opportunities in industries such as construction, operations and maintenance, and service industries.
Tenax Energy Pty Ltd is a Darwin company established to initiate tidal energy projects. Established in 2007, Tenax Energy identified a significant gap in Australia’s renewable energy sector. Tenax Energy is committed to producing sustainable, clean, and reliable energy for the Australian market.
This investment would be ideally suited to:
- experienced investors with an appetite for investing in emerging technologies and in start-up industries
- potential joint venture and industry partners with the capabilities to collaborate in a range of ancillary industries required during the installation, operation and maintenance of the site are invited to contact Tenax Energy.
Tenax Energy Pty Ltd
Phone: +61 8 8941 7688
Director Investment Attraction
Department of Primary Industry and Resources
Phone: +61 8 8999 1385
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