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4C is now TGS
We are excited to announce a significant milestone in 4C Offshore's journey. Our integration into the TGS family marks the beginning of a new era in offshore wind market intelligence.
The Digby Gut project is one of three COMFIT projects under development in Digby County by Fundy Tidal. IME and Fundy Tidal have also entered into a Right of First Refusal Agreement to develop and finance all current COMFIT projects and to collaborate on future projects in Atlantic Canada. On November 6, 2014, IME closed the purchase negotiated by Tribute for a minority equity interest in Fundy Tidal shares. Fundy Tidal has elected two representatives of IME to its Board of Directors : Tribute President Jane Lowrie and IME Vice President Peter Budd. In addition, Jennifer Lewis, the CFO of TRB will also be appointed CFO of Fundy Tidal. The purchase price for a 20% share interest in Fundy Tidal is the sum of $1,195,500. IME paid $597,750 on closing and will pay the balance on financial close of the Digby Gut Limited Partnership.
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