New York City-based Verdant Power has applied to the Federal Energy Regulatory Commission for a pilot license to install 30 propeller-like turbines in the east channel of the East River in New York City that could generate up to 1 MW of hydropower. Verdant expects to have the license within six to 12 months. After securing the license, it will install the grid-connected Roosevelt Island Tidal Energy system, says Trey Taylor, co-founder and president of Verdant. Though Verdant calls the system a tidal system, the power is generated from the flow of the river, not the ebb and flow of
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.