Marine renewables funding boost

EMEC has welcomed the announcement on 20 February 2007 of £13 million in support from the Scottish Executive for companies developing wave and tidal projects. Nine companies share the funding, with the bulk of the projects to be tested in and around EMEC’s facilities in Orkney.

Deputy First Minister Nicol Stephen said: “This marks a vital milestone in Scotland’s drive to be the world leader in the development of marine renewables. Scotland has the potential to generate a quarter of Europe’s marine energy and kick-starting the sector is vital if we are to create a significant industry based in Scotland and meet our long-term renewables targets.”

EMEC managing director Neil Kermode said: “We are delighted to see this level of support from the Scottish Executive. It sends a clear signal that the Executive is determined to push forward the development of tidal and wave technologies – technologies that will unlock the enormous renewable energy potential of our coastal waters.” Mr Kermode added: “This financial support from the Executive will help developers get devices into the water and we look foward to them using our test facilities. The technology is moving forward, but we must never underestimate just how difficult – and expensive – an environment this is to work in. This solid support from the Executive underscores the need for long term, substantial investment from the public and private sectors to build a new industry for Scotland. The rewards, in terms of jobs and the generation of a truly sustainable source of renewable energy will be enormous. It’s an opportunity none of us can afford to miss.”

EMEC will receive £2.5 million of the funding announced by the Executive. This money will ensure EMEC’s wave and tidal testing facilities are fully prepared for the arrival of many of the new projects, involving a wide range of technologies.