Public Sector to Share Wave and Tidal Development Costs (UK)

A group of MPs has claimed the public sector should pay for the part of wave and tidal development costs to attract more investment, reports Scotsman.

The House of Commons’ Energy and Climate Change Committee will call on the government to reduce the investment risk so that the UK can keep its leading position in offshore renewables.

Tim Yeo MP, Chair of the Committee, said:

“Britannia really could rule the waves when it comes to marine renewable energy.

We are extremely well placed to lead the world in wave and tidal technologies, which could potentially bring significant benefits in manufacturing and jobs, as well an abundant supply of reliable low-carbon electricity.

A more visionary approach from the Department of Energy and Climate Change could help boost confidence and drive the pace of development.”

[mappress]

Offshore WIND staff, February 22, 2012