The Federal Energy Regulatory Commission (FERC) and the U.S. Coast Guard within the U.S. Department of Homeland Security have signed a Memorandum of Understanding (MOU) to cooperate with each other on the development of hydrokinetic projects. These projects generate power from waves, tides, ocean currents, and the flow of rivers.

The MOU will advance interagency cooperation in protecting navigation safety, maritime security, and environmental resources when considering license proposals for hydrokinetic energy development.

"Hydrokinetic development is an up and coming resource and this MOU provides valuable coordination between FERC and the Coast Guard to ensure an efficient process while protecting valuable environmental resources," commented FERC Chairman Jon Wellinghoff. "I want to thank the Coast Guard for their willingness to move forward with the important agreement. "

Specifically, the MOU will improve the ability of the agencies to:

1. Establish a joint timetable;
2. Identify critical issues early;
3. Acquire and share information efficiently; and
4. Collaborate on analysis.

Northwest Lending Group