Duke of York visits EMEC
HRH The Duke of York yesterday [Tuesday, September 6] visited the European Marine Energy Centre (EMEC) as part of a trip to Orkney focused on the marine renewable industry.
Marine renewables fits a number of key areas as part of the Duke’s role in supporting the business community. Particular areas of emphasis include stimulating science and engineering, developing high tech and high value manufacturing, encouraging and recognising scientists and entrepreneurs who develop their innovations and discoveries in the UK, and promoting international business opportunities.
His Royal Highness met technology developers, and witnessed the cutting edge research into marine energy taking place in Orkney.
“EMEC is a truly world-leading facility which tests new prototype machines designed to generate electricity from waves and tidal currents” said Neil Kermode, EMEC’s Managing Director who accompanied the Duke on visits to the Centre’s wave and tidal test sites. ”There are now more machines here at EMEC than any other single site in the world, proving the UK as a centre of gravity for this important new industry”
“Receiving a visit from the Duke of York shows the significance of what is happening here in Orkney, to local and international business and innovation.”
“The UK has the best wave and tidal resource in Europe, which could provide a considerable proportion of the UK power market in years to come. The UK has also produced some of the leading marine energy devices in the world today. If these devices can meet their commercial potential ahead of the global competition, the rewards will be huge.”
“Key to achieving that is supporting innovation early as demonstrated by countries such as Denmark and Germany who have made substantial financial benefits from renewables in the wind energy market. In the UK there are barriers in relation to grid, supply chain, skills, finance and regulation that need to be overcome – the industry lead is ours to lose.””
In recognition of this, the Duke of York paid particular attention to the finance gap facing the development of wave and tidal technologies. RenewableUK, in their current SeaPower campaign reported that the fledgling UK marine energy industry has been supported by £100m of public investment which has drawn in excess of £200m of private capital. But in order to develop a full industrial base here in the UK, the industry needs a further £130m of capital support over the next 5 years in addition to revenue support until it reaches commercial maturity, along with revenue support which continues beyond that.
