The RF Ministry for the development of the Russian Far East and Arctic, the government of Kamchatka Kray and H2 Chistaya Energetika (Clean Energy) signed an agreement to start preliminary studies of the Penzhinskaya tidal power plant project during the Eastern Economic Forum.
The parties expect to start hydrogen production and export based on the renewable energy source by 2030, the government of Kamchatka Kray said in a statement.
Under the agreement, the parties are to define the concept of their cooperation, study the possible technical solutions, carry out the feasibility study of the project.
The tidal power plant is to be located in the Penzhinskaya Bay in the Northwestern part of the Shelikhov Gulf of the Sea of Okhotsk. The tides there move more 500 cubic kilometers of water twice a day, comparable to the runoff of the Volga during two years, the tide being up to 13 meters high.
According to Vladimir Solodov, Governor of Kamchatka Kray, the studies carried back in the 1970s confirmed the tides in the Penzhinskaya Bay allow of developing tidal power plants to produce up to 100 GW, which is equivalent to about 40% of all Russia’s power plants capacity.
He said the tidal energy will allow of producing hydrogen usiong the method electrolysis. The potential hydrogen production can make up to 5 mn tons annually.
Earlier, it was reported that the Northern dam of the Penzhinskaya power plant will cost $60 bn to build while the cost of the Southern dam was estimated to make $200 bn.