New Power Purchase Agreement

We are pleased to announce that EMEC has signed a Power Purchase Agreement with SmartestEnergy, the UK’s leading purchaser and supplier of electricity from the independent generation sector, for all of the power generated from the wave and tidal devices operating at our test sites. When full, the sites have a combined capacity of 11MW for export. The Power Purchase Agreement with SmartestEnergy provides a direct line of income from power sales for these innovative energy entrepreneurs.

Iain Robertson, SmartestEnergy’s Business Development Manager for Scotland, said: “SmartestEnergy is proud to be helping support the development of these new, cutting edge technologies which have the potential to play a huge role in the UK’s energy supply mix. We hope this is the first of many marine-based energy projects in our generation portfolio.”

SmartestEnergy now has a portfolio of over 1700MW under management. Its entire portfolio comes from independent (non-utility) generators, with a majority of sites generating renewable electricity.

Neil Kermode, Managing Director of EMEC said: “We are very pleased to have signed this agreement with SmartestEnergy. It is very important that we get the best value for the technology innovators we work with. SmartestEnergy understands the needs of independent developers and generators so can offer the most compelling and flexible terms for business.”

“The Power Purchase Agreement is also crucial to show that marine energy is not just a concept or a distant dream, but a fully commercial reality which can play its part in generating industrial levels of power. We look forward to expanding our work and welcoming new technology developers to this world beating facility”.