Page last updated at 17:17 GMT, Tuesday, 2 February 2010

Marine power schemes given cash boost

Oyster wave device
The Oyster wave device has been developed by Aquamarine Power

By Hayley Millar
BBC Scotland business correspondent

Three Scottish companies have won a multi-million pound funding boost to help prove the commercial viability of their marine power devices.

The money from the Department of Energy and Climate change, DECC, is awarded by The Carbon Trust.

Edinburgh based Aquamarine Power has been awarded £5.1m and has raised the same again from its shareholders.

The funding will be used to develop the second generation of its Oyster wave device which is the world's largest working hydro-electric wave energy converter.

It is currently producing electricity at the European Marine Energy Centre (EMEC) in Orkney.

Martin McAdam, chief executive officer of Aquamarine Power, said: "The funding is a major boost and will allow us to develop Oyster 2, a 2.5 MegaWatt machine which will be eight times more powerful than the one we are currently testing."

Joint venture

Pelamis Wave Power has also been awarded £4.8m to develop a more advanced wave machine, Pelamis P2.

The machine will also be tested at EMEC. The second generation machine will be installed off Orkney this year and will produce enough electricity to power 500 homes.

Max Carcas, business development director of Pelamis Wave Power, said: "The scheme will lead to faster progress in the marine energy sector and lower risk investment propositions for the private sector, driving the sector towards large scale deployment sooner."

construction of the P2 machine
Pelamis Wave Power is developing the Pelamis P2

Another winner is Hammerfest Strom UK, a joint venture between its Norwegian parent company and ScottishPower Renewables.

The company's award of £3.9m will help fund the installation of its tidal device known as the HS1000 at EMEC in Orkney.

In two years' time Hammerfest is hoping to install 10 tidal turbines in the Sound of Islay, which should produce enough electricity to power the whole of the Island.

Hammerfest is also understood to have plans to create a manufacturing facility in Scotland which would build the turbines for the Islay project.

Keith Anderson, director of ScottishPower Renewables, said: "Scotland is blessed with an abundance of renewable energy potential, and tidal offers perhaps the greatest source of power.

"The deployment of the HS1000 device is a major milestone in Scotland's ambitions to tap-in to this new source of energy."

Marine energy is currently some way behind other forms of renewable energy in its development.

The Carbon Trust believes that the cost of developing the technology can be considerably reduced over the next 10 years, which could see up to 1,000 wave and tidal devices in the water by 2020.

Print Sponsor

New drive to harness wave power
09 Dec 09 |  Science & Environment
Marine energy firm gets 8m boost
15 Jul 09 |  North East/N Isles

The BBC is not responsible for the content of external internet sites

Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit


Sign in

BBC navigation

Copyright © 2019 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific