Ocean Thermal Energy Corporation of the US and Bahamas Electricity have signed a Memorandum of Understanding (MOU) to develop two ocean thermal energy conversion (OTEC) plants in the Bahamas.
Ocean Thermal Energy said that upon completion, the two plants will be the world’s first commercially viable OTEC plants to produce both electricity and potable water, while also providing a site for commercial sustainable food production.
Ocean thermal technology capitalises on the temperature differential between the warm surface seawater and cold deep ocean water to generate both baseload electricity and potable water.
The agreement will support the construction of two plants, which will be owned and operated by Ocean Thermal Energy.
The power that is generated by the OTEC plants will be purchased by Bahamas Electricity, the largest utility in the region, serving 85 per cent of all electricity customers in the Commonwealth of the Bahamas.
For more information on Ocean Thermal Energy Corporation.
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