Blue Energy Canada Inc. and World Energy Research have signed a memourandum recently, which lead to the announcement of a formal agreement between the two companies for building a 200 MW, USD 500 million, commercial tidal power project. The new project will be based on Blue Energy's Davis Tidal Turbine.

On the other end, DARPA (Defense Advanced Research Projects Agency, US) has been developing its own small scale ocean power generating systems.

Ocean energy projects have been around in the past years, although with arguable success. The technology works, and is conditionally economically viable, but with wind and solar getting all the large-scale attention, ocean energy has remained in "test" status. Advancements have been made through different prototypes, some of which have been tested with success, promising a great future in commercial scale deployment, like the Oyster Wave Energy device.

It seems DARPA has been requesting information about buoy sized energy systems since last year. These ocean energy harnessing systems would small scale, ocean based systems that would enable autonomous station keeping bouy development. The devices would have to be able to store energy for long periods of time, generating electricity in all weather conditions.