StockMarketWire.com - Simec Atlantis Energy said it had agreed to provide power from a proposed tidal energy project off the coast of Normandy to the island of Alderney in the Channel Islands.

The agreement, inked with Alderney Electricity, would involve power being sourced from the company's Normandie Hydroliennes tidal joint venture with investment fund Normandie Participations and manufacturer Efinor.

The agreement envisaged that Alderney Electricity would seek to enter into a 25-year power purchase agreement, under which it would buy a minimum 5 gigawatt hours of electricity per year from Normandie Hydroliennes, at a fixed price.

'This is sufficient to meet the entire current energy demand of the island,' Simec Atlantis said.

Story provided by StockMarketWire.com