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A French naval submarine and nuclear technology group has paid €14 million for a stake in Irish tidal energy developer Openhydro. Openhydro, which designs and manufactures turbines for converting tidal power to electricity, said yesterday that DCNS, a French state-owned specialist in naval defence and nuclear energy systems, is taking an 8 per cent stake in the Irish company for €14 million. The deal values Openhydro, which is still in the development phase of its business, at €175 million. Read More
