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Statement on TIDAL STREAM AND WAVE ENERGY COST REDUCTION AND INDUSTRIAL BENEFIT report by ORE CATAPULT.

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Scotrenewables Tidal Power, the leading developer of floating tidal energy systems, welcomes the TIDAL STREAM AND WAVE ENERGY COST REDUCTION AND INDUSTRIAL BENEFIT report, published by ORE Catapult today.  Speaking at All-Energy in Glasgow, Andrew Scott, Chief Executive Officer of Scotrenewables Tidal Power said, “

 “The ORE Catapult study presents a hugely compelling case to implement structured commercial markets for tidal energy that will enable the investment required to build the tidal energy industry in the UK. The report validates our own cost analysis of our 2MW SR2000 turbine which has been successfully operating at EMEC over the past year.

This is an industry with an existing supply chain which can grow substantially more if the right market framework is put in place. There is a massive opportunity to build the tidal sector in the UK and a global export industry, based around skills and technology. And let’s not forget that this industrial opportunity can be realised whilst capturing the environmental, economic and security benefits which come from a predictable renewable energy source.”

 

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Media Enquiries: James Murray, Business Development Manager, Scotrenewables Tidal Power

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Tel. 01856 851641