Recently, the Department of Science and Technology of the State Oceanic Administration and HydroChina Huadong signed the Contract of “Pre-feasibility Study for Wenzhou Oufei 10MW-class Tidal Power Project(TPP)” - the 2013 National Oceanic Renewable Energy Fund Project. It is the first time for Hydrochina Huadong to successfully win such project contract as a contractor. The contract amount is 7 million yuan, and the project is scheduled to be completed by the end of 2014.

    In addition, the application for another National Oceanic Renewable Energy Fund Project - “Overall Design of Zhoushan Tidal Current Energy Demonstration Project” was approved over the same period, for which China Three Gorges Corporation acts as the leading party and Hydrochina Huadong as the main cooperative unit. The contract amount is 7.58 million yuan, and the contract is planned to be signed in the near future.

    Oufei TPP will be constructed in open sea area. Compared with the international mainstream idea of TPP construction in the bay, it is a breakthrough in TPP construction concept, thus, the implementation of the project will have significant technical demonstration benefits.

    The National Oceanic Renewable Energy Fund was established in 2010 jointly by the Ministry of Finance and the State Oceanic Administration, aiming to promote the sci-tech progress and industrialization of China’s ocean power and mainly funding such projects as the ocean energy independent power systems, the large-scale grid-connected power systems, industrialized demonstration projects, researches on comprehensive development and utilization of ocean energy technology, standards and support service system construction, etc.