Abstract: A system and method for generating chemical energy from ocean current energy is disclosed which includes a unique suspension system having a support cable (10) submerged below the ocean surface in an isolation zone (Z) remote from the adverse influences of storms and hurricanes. Support cable (10) is submerged by a first anchor which includes guys (20), buoyancy chambers (30) and guy anchors (22). A second anchor is provided by generator cable assemblies (B) which suspend a plurality of electric energy generating units (A) and are anchored by means of suspension anchors (52). Buoyancy provided by modules (14,30,36) exert a buoyancy on the suspension system and provides that the basic components of the suspension system essentially support their own weight. In this manner, little or no weight is exerted on support cable (10) by the anchors and generating units suspended.