New Zealand’s Kaipara Harbour is the largest natural harbour in the Southern Hemisphere with an area of 947 square kilometres (366 sq mi). It emptys into the Tasman Sea through a narrow channel only 6 kilometres (3.7 mi) wide. On average, Kaipara tides rise and fall 2.10 metres (6.9 ft). Spring tidal flows can reach 9 km/h (5 knots) in the entrance channel and move 1,990 million cubic meters of water per tidal movement or 7,960 million cubic meters daily. What all this means is that it is a prime spot for underwater turbines.
Crest Energy wants to put 200 1.2 MW tidal turbines along the main channel to generate a peak output of 200MW. This translates to approx. 250,000 homes or the entire peak electricity needs of Northland. How cool would that be. That could replace 575,000 tonnes of carbon now produced by gas power plants, lower oil imports, and sprout a new industry. All for a measly $40 upfront and $600 million long term.
There are your normal nah-sayers and fish lovers fighting against it, by my argument is the same for wind turbines and birds. I would rather sacrifice a few fish here and there, than fill the atmosphere with crap until we all die. This is the kind of project New Zealand and the World needs more of. As ingenious as Kiwis are there is no reason we couldn’t become leaders in wind and tidal turbine design and eventually meet 100% of our own turbine manufacturing needs.
Hopefully todays investment environment won’t have stakeholders backing away from this one. The long term returns on this project will be enormous.
More to come.
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