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Marine energy in the UK: investment opportunities

Published 26 February 2014

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This publication is available at https://www.gov.uk/government/publications/marine-energy-in-the-uk-investment-opportunities/marine-energy-in-the-uk-investment-opportunities

1. Overview

The UK is the windiest place in Europe and is able to use its natural power resources such as wind, waves and tides to generate electricity.

2. Wave and tidal energies

The UK’s coastline is more then 19,000 miles (30,500km) long. This means the combined wave and tidal energy potential is an important resource to be developed. Companies in the UK have taken this opportunity to develop and install wave and tidal technologies in the UK and around the world.

The UK is responsible for 27% of tidal energy developments and 23% of wave projects around the world. UK backed schemes include:

  • SeaGen - the first commercial tidal energy system
  • Pelamis - the first commercial wave farm, which was exported to Portugal

Read about how wave and tidal energy is part of the UK’s energy delivery.

3. Energy parks

The government encourages joining and grouping activities through marine energy parks. These will bring together various interest groups such as universities, research groups and private companies working in marine energy.

The parks that have been set up are:

4. Government help

The government strategy for the development of wave and tidal technology is set out in the Renewable Energy Roadmap.

The government is investing £20 million through the Marine Energy Array Demonstrator (MEAD) scheme to support 2 tidal projects.

5. Research and demonstration facilities

5.1 The National Renewable Energy Centre (Narec)

Narec offers a purpose built large scale wave flume device for testing small scale devices. Closer working between the UK and European organisations has allowed developers to move from early prototypes to large scale development.

5.2 European Marine Energy Centre (EMEC)

EMEC is the first centre of its kind in the world, offering developers the opportunity to test full scale grid connected prototype devices in testing wave and tidal conditions. EMEC provides the worlds only multi-berth open sea test facilities.

5.3 Wavehub

Wavehub provides offshore infrastructure for demonstration and proving arrays of wave energy devices. The hub is linked to the UK’s energy grid network. Four separate berths are available to lease, each with a capacity of 4-5 Megawatts.

The SuperGen Marine Research Programme

SuperGen Marine aims to complete generic research on the potential and future exploitation of the marine energy resource. The second phase includes 5 core academic institutions – the University of Edinburgh, Heriot-Watt University, Lancaster University, Queens University Belfast and the University of Strathclyde. It aims to increase knowledge and understanding of sea-device interactions of energy converters.

5.4 The Peninsular Institute for Marine Renewable Energy (PRIMaRE)

PRIMaARE is a network of research institutions based in the west, south, and south west of England. They carry out research and development to address challenges facing the marine renewable energy industry at the regional, national and international level.

6. Locations

There are different locations across the UK known as Enterprise Zones that offer investors incentives to locate themselves there including:

  • reduced taxes
  • simpler planning rules
  • financial benefits

Many Enterprise Zones have employment clusters, where businesses from the same sector are located in the same zones.

More information about the Enterprise Zones across England, Wales and Scotland.

7. Contacting Department for International Trade (DIT) for help

DIT can provide overseas companies and investors with more information about opportunities in the UK’s marine energy market.

Enquiries for overseas companies looking to set up in the UK

Email enquiries@ukti-invest.com

Contact form https://www.contactus....

Telephone: +44 (0)207 000 9012

Overseas companies can contact the Investment Services Team for information about setting up in the UK including the help that is available.

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