Minister Barker Backs Marine Current Turbines’ Plans for Marine Energy Park (UK)

Andrew Tyler of Marine Current Turbines will meet Climate Change Minister, Greg Barker, ahead of the launch of the UK’s first marine energy park, in support of Government and industry initiatives that have facilitated the development of the sector.

As a tangible sign of the Department’s policies in action, today MCT also launch their Project Information Prospectuses for their first two commercial scale projects, which represents another milestone for the industry on the path to commercialsiation.

The move by Marine Current Turbines (MCT) to secure the finance for these two projects, which could be the UK’s first tidal projects, is a direct result of the UK’s Government’s proposal to offer 5 ROCS for tidal energy schemes and Siemens Energy’s decision to increase its shareholding in MCT in November last year. MCT’s projects are the 8 megawatts (MW) Kyle Rhea project in Scotland and its 10 MW Anglesey Skerries project in Wales.

Speaking in Bristol, Climate Change Minister Greg Barker said: “We want the marine energy sector to succeed, so I’m delighted to see that MCT is progressing its SeaGen technology. We intend that the Renewables Obligation should support early commercial wave and tidal energy projects such as Kyle Rhea and the Skerries, this is why we are proposing to more than double the support to marine energy projects up to 30MW. This should help companies secure the financing for projects and accelerate the growth of the sector. Marine power has huge potential in the UK not just in contributing to a greener electricity supply and cutting emissions, but in supporting thousands of jobs in a sector worth a possible £15bn to the economy to 2050. The UK is already a world leader in wave and tidal power, so we should capitalise on this leadership to make marine power a real contender in the future energy market. I wish MCT every success”

MCT’s Chief Executive Officer, Dr Andrew Tyler, who is a member of the MEPB, said: “We share DECC’s determination in wishing to build a strong and vibrant tidal and wave energy industry in this country but we can only do this if commercial schemes such as Kyle Rhea and the Skerries attract the necessary investment. We have proved the performance and reliability of our SeaGen technology and we continue to invest time and money to improve SeaGen’s operation. Coupled with the backing of Siemens Energy, we are confident that there will be strong investment interest in our two projects. DECC’s proposed policy to offer 5 ROCS to investors is hugely important and we are sure will give the necessary spur to the investment community.”

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Offshore WIND staff, January 24, 2012; Image: marineturbines