French naval defence manufacturer DCNS is taking a majority stake in renewable energy company OpenHydro after predicting a surge in the tidal sector.
DCNS will up its stake from 11% to 59.7%, taking control of the Ireland-based manufacturer of marine turbines, which are laid on the seabed to generate renewable tidal energy. The decision to increase its stake in OpenHydro is part of the French company’s plan to boost revenue from renewable energy, entering the market in 2009…
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