Abstract
Progress toward commercial deployment of in-stream tidal energy devices and commercial arrays has frequently met with delays, particularly in the UK and Canada. While some delays are due to the manifestation of the uncertainties inherent in new technology development, this study seeks to better understand the strategic timing decisions of tidal energy conversion companies in developing a globally-distributed renewable resource. The study consists of semi-structured interviews with executives and senior managers of organizations in the international tidal energy industry. Themes emerging from the interviews find companies manage risk by timing their investments across an international portfolio of seabed leases, consistent with the exercise of real options.