By Angela Macdonald-Smith
Oct. 29 (Bloomberg) -- China Cosco Holdings Co., the world's biggest operator of dry-bulk ships, signed an initial accord with Sydney-based Solar Sailor Holdings Ltd. for the Australian company to develop renewable power systems for tankers.
Under the memorandum of understanding, Solar Sailor will design and engineer wind and solar power units for a Cosco tanker and bulk carrier, Ian Macdonald, minister for state development in Australia's New South Wales, said today in an e- mailed statement.
Solar Sailor's technology comprises wing-shaped solar panels that are fitted to vessels to generate solar power as well as capture energy from the wind. The technology has until now only been used on smaller ships and the accord with Cosco will aim to adapt it for use on bigger cargo vessels, the state government said.
``This technology will allow Cosco to supplement the use of ship fuel with renewable energy to cut fuel costs and environmental emissions,'' Macdonald said. The solar systems technology has the potential to cut a vessel's fuel costs by as much as a fifth, with a further 20-40 percent reduction from wind power in ideal conditions, he said.
Solar Sailor will have access to two Cosco ships over the next 16 months to design, engineer and fit the technology in a test project, the minister said.
To contact the reporter on this story: Angela Macdonald-Smith in Sydney at amacdonaldsm@bloomberg.net
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