Occurrent, a tidal power developer in the Bay of Fundy, filed for insolvency due to $30M+ losses.
Occurrent, formerly BigMoon Power, has filed for insolvency after failing to develop tidal power in the Bay of Fundy, incurring losses exceeding $30 million. This marks another setback for the region's tidal energy sector, following OpenHydro’s bankruptcy in 2018. Despite these challenges, the Nova Scotia government remains interested in future tidal projects and will oversee the cleanup of temporary gravel pads on underwater land.
September 05, 2024
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