Government funds ‘vital’ for commercial marine energy
Published Friday, 17th July 2009
Wave energy developer Aquamarine Power is welcoming the £60-million package for marine renewable energy development announced this week by the Department of Energy and Climate Change (DECC) under The UK Low Carbon Transition Plan.
The package includes £9.5 million for the Wave Hub in Cornwall, £10 million for the New and Renewable Energy Centre (NaREC) in Northumberland, £10 million in South West Regional Support for deployment and research & development, and £8 million for the European Marine Energy Centre (EMEC) in Orkney.
It also includes a £22-million Marine Renewables Proving Fund to support developers who are testing and developing pre-commercial prototypes.
“There is a worldwide race to develop marine renewable technology and — with the correct government support — the UK has the potential to capitalise on this and create a substantial manufacturing and export industry,” said Martin McAdam, CEO of Aquamarine Power. “The £22-million Marine Renewables Proving Fund will provide vital assistance for developers such as Aquamarine Power to take their devices from full-scale demonstrators to commercial reality.”
“However,” McAdam added, “the industry still requires substantial R&D funding and infrastructure investment in ports, manufacturing and the electricity transmission network. The prize for success will be considerable — Germany and Denmark have built multi-billion-pound industries by taking the lead in wind technology. With the right support, the UK could make a similar success of wave and tidal technology. Scotland has Europe’s best wave resources and is the natural home for this exciting new industry.”
According to the Scottish Government, Scotland’s seas hold 25 per cent of Europe’s tidal resources and 10 per cent of Europe’s wave resources. Scottish waters offer the potential to deliver up to 21.5 gigawatts of wave and tidal energy, enough to meet about half of the country’s energy demands.
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