13 February 2013 – Tocardo International, the leading producer of tidal and free-flow water turbines, and Repsol, the international integrated energy company, have announced a partnership between the two companies. The Repsol New Energy Ventures and Tocardo partnership will provide a platform for both companies to develop offshore tidal energy, combining Tocardo’s knowledge of tidal and river free flow water turbines with Repsol’s access to energy markets around the world.

Tocardo can further accelerate the development of its off-shore engineering capabilities using Repsol’s knowledge of the energy industry and will be able to tap into many of the fledgling renewable energy markets that Repsol has identified.Repsol is Spain’s largest industry conglomerate. It is currently one of the biggest oil and gas providers in the world. It has up to 1,200MW of offshore wind concessions in the UK and is a partner in WindPlus/Principle Power floating offshore wind foundation.

Late in 2012 Tocardo also entered a partnership with international offshore engineering company Huisman Equipment. The combined Tocardo, Huisman and Repsol resources can deliver on turnkey tidal energy projects.

Commenting Hans van Breugel, CEO of Tocardo says, “With increasing international interest in tidal and in-stream power generation we will confirm our position as first to market in selling commercially produced water turbines.”