The marine energy project, owned by Verdant Power and known as the Roosevelt Island Tidal Energy (RITE) Project, will use the tidal currents of the East River to generate up to 1 MW of electricity in a three-staged development approach, beginning in 2013. The RITE pilot project is estimated to have an annual generation of 2.4 GWh after the completion of Phase 3. Turbine generator units are mounted on the riverbed and capture energy from the tidal flow.
Verdant Power’s license application was submitted under FERC’s Hydrokinetic Pilot Project Licensing Process, developed in 2008 to allow for the advancement of U.S. hydrokinetic technologies, 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. The pilot license issued to Verdant Power is for 10 years.