Wednesday, 3 February 2010

£9m grants to develop wave and tidal projects

Published Date: 03 February 2010
SCOTLAND's marine energy sector has been awarded £9 million in public funding to develop wave and tidal devices.
Edinburgh-based Aquamarine Power was awarded £5.1m to support the manufacture of its second generation Oyster wave energy device.Norwegian tidal power developer Hammerfest Strøm's UK subsidiary, which is working with ScottishPower Renewables, also received a £3.9m grant.The grants were made by the UK government's Marine Renewables Proving Fund, which is managed by the Carbon Trust.Edinburgh-based Aquamarine Power's first Oyster device is currently undergoing sea trials at the European Marine Energy Centre (EMEC) in Orkney. The Oyster 2 will be manufactured later this year before testing is expected to start in 2011.Aquamarine, whose backers include Scottish & Southern Energy and Scottish Enterprise, earlier this week named renewables industry veteran Richard Round as its first chief financial officer. Last September the company raised £10m in first-round funding.Hammerfest Strøm UK also expects to have its one-megawatt (MW) tidal power device operating at EMEC by 2011. Design and pre-engineering have already been completed and the firm is currently tendering for fabrication and installation work. The company will work with ScottishPower Renewables which plans to install the device as part of a 10MW tidal power array in the Sound of Islay by 2012. The project will be the largest demonstration tidal power project in the world