NYK and MTI Co. Ltd. have reached an agreement to participate in a long-term demonstration of tidal energy being sponsored by MAKO Energy Pte. Ltd. and Sentosa Development Corporation, which will provide the demonstration site. The demonstration will start next spring in a first-time attempt to commercialize tidal energy in Singapore, the company said in a press release.
In accordance with the NYK Group’s medium-term management plan “Staying Ahead 2022 with Digitalization and Green” that NYK announced in March, the company is taking steps to create new value through Green Business and the like.
The NYK Group has already implemented environmentally friendly initiatives at finished-car logistics terminals. Solar panels have been installed, LED port lights have been introduced, water used to wash cars is being recycled, and wind turbines are under construction. By implementing wind power generation, the Group gets one step closer to its goal of operating "green” terminals. The Group is thus participating in this demonstration to acquire additional technical expertise in the renewable energy field.
This is the first demonstration of tidal energy to be undertaken in Singapore. MAKO Turbines will be installed under the Sentosa Boardwalk — i.e., the bridge between the Singapore mainland and the island of Sentosa — and for two years the power generation efficiency, the cost of power generation, and storage will be examined.
The NYK Group will collaborate with MAKO Energy Pte. Ltd. and other partners in this research. The group then aims to contribute to the sustainable development of society and enrichment of the company's corporate value by creating next-generation green business.