SNM Global Holdings Speeds up Hydrokinetic Power Projects

SNM Global Holdings has accelerated the developmental pace of hydrokinetic energy projects. These projects are much more cost-efficient than solar or wind. The company will be adding up additional product solutions as well as development projects under all the types of kinetic energy, namely, river hydrokinetic, ocean current, tidal barrage, tidal stream and wave energy.

In the coming five years, hydrokinetic energy that is generated from rivers and oceans might grow by 22 GW capacity, as per Pike Research’s Hydrokinetic and Ocean Energy Report. The report makes a projection that approximately 10,000 MW capacity could reach the market by 2020 in the EU (European Union) alone while this might go up to 200,000 MW capacity by the year 2050.

The report suggests further that the ocean hydrokinetic energy is more cost-efficient by 50 to 100 times when compared to solar or wind energy. Hydrokinetic energy solutions could also become more adaptable as alternative energy solutions for various emerging markets.