NEW YORK - The U.S. Federal Energy Regulatory Commission issued a Pilot commercial license to construct, operate, and maintain Verdant Power's Roosevelt Island Tidal Energy (RITE) Project in the East Channel of the East River in New York City.  The RITE Project will use the natural tidal currents of the East River to generate up to 1 megawatt (MW) of emission-free electricity in a three-staged development approach, beginning in 2013.  The RITE pilot project is estimated to have an annual generation of 2.4 gigawatt-hours (GWh) after the completion of Phase 3. Verdant Power, will install its 5th Generation Free Flow System, an updated version of the technology previously demonstrated in the East River.

Verdant Power's license application was submitted under FERC's Hydrokinetic Pilot Project Licensing Process, developed to allow for the advancement of U.S. hydrokinetic technologies (tidal, river, wave power), while maintaining FERC oversight and agency input.  FERC's issuance of the license for the RITE Project is based on its analysis of a variety of monitoring measures proposed by Verdant Power that protect and enhance fish, wildlife, recreational, public safety, cultural, and aesthetic resources at the project (please see www.theriteproject.com for more information). The RITE Project is the first tidal power plant in the U.S. licensed to transmit energy onto the local and national grid.

According to the Ocean Renewable Energy Coalition (www.oceanrenewable.com), the leading trade organization for the U.S. marine and hydrokinetic energy industry, the potential for such projects is up to 3,000 MW of installed capacity by 2025 - enough to power more than three million homes.  The Ocean Energy Council estimates the global potential for tidal power exceeds 63,000 MW.  

The action today is the culmination of years of technology advancement beginning in 2002 with prototype system testing, and initial RITE project consultations

Since its inception, the RITE Project has received major support from the New York State Energy Research and Development Authority (NYSERDA).  Other project funding has been received from the New York City Economic Development Corporation and the U.S. Department of Energy.