Scotrenewables Tidal Power is changing its name to Orbital tidal Power as it aims to raise £ 7 m ( $ 9.2 ) through peer - to - peer financial Abundance Investment . The turbines will be used to build a commercial tidal MW tidal turbine , previously called turbine 2000 , which will be renamed Orbital O2 . The device generated 3 GWh of electricity off uk 's Orkney Islands during a year of testing at the European Marine Energy Centre . Orbital Marine Power will now redesign it for global commercial deployment .
Scotrenewables Tidal Power is changing its name to Orbital Marine Power as it aims to raise £7m ($9.2) through peer-to-peer platform Abundance Investment. The money will be used to build a commercial 2 MW tidal turbine, previously called SR2 2000, which will be renamed Orbital O2. The device generated 3 GWh of electricity off Scotland's Orkney Islands during a year of testing at the European Marine Energy Centre. Orbital Marine Power will now redesign it for global commercial deployment.