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The forumâs participants finally adopted a declaration called âthe Three Seas Initiativeâ, establishing an informal platform to strengthen political ties and facilitate cross-border cooperation in the region and implementation of macro-regional projects.
The Roosevelt Island Tidal Energy (RITE) Project, owned by Verdant Power, is the first tidal energy project to be issued a license from the Federal Energy Regulatory Commission (FERC). The first of three phases of the project was prototype testing from 2002 until 2006 when the phase 2 demonstration began.