Minister announces further investment in marine renewables
during Wave Hub visit
29 July 2010
Business and Enterprise Minister Mark Prisk has today announced
a £1.5 million investment in the development of wave energy
technology during a visit to the South West RDA’s Wave Hub project
at Hayle.
Mr Prisk, who kicked off a two-day tour of Cornwall, said the
additional £1.5 million grant from the RDA would allow wave energy
company Ocean Power Technologies Ltd (OPT) to develop a larger
version of its ‘Powerbuoy’ wave energy device.
It follows an announcement by the Government-backed Technology
Strategy Board last week of a £7 million investment in nine
projects aimed at developing wave and tidal technologies of the
future.
OPT is the first company signed up to use Wave Hub, which is a
£42 million project to create the world’s largest test site for
wave energy technology, off the north coast of Cornwall.
Wave Hub is being installed on the seabed over the course of the
next few weeks and is a cornerstone of the UK’s ambition to grow a
world-class marine energy industry.
Mr Prisk said: “This ground-breaking Wave Hub project is
evidence of British engineering and offshore expertise – almost 80%
of the value of contracts awarded so far have gone to UK
businesses.
“The UK is already leading the way in marine energy, with 25% of
the world’s wave and tidal technologies being developed here. This
is a huge opportunity for UK business – the sector could be worth
£2bn by 2050 and it has the potential to create up to 16,000 jobs
by 2040.
“But this is a young industry and it needs support to realise
that potential. That’s why Government is continuing to provide
£18.5m of support for marine projects here in the South West.
Today’s investment in OPT is further evidence of that
commitment”
During his visit the Minister was briefed by the RDA on the
progress of Wave Hub, and plans to invest £15 million – including
£5 million from central Government – in major infrastructure
improvements around Hayle Harbour, to support the development of a
new marine energy business park, creating up to 200 jobs.
Stephen Peacock, Executive Director for Enterprise and
Innovation at the South West RDA, who escorted the Minister on his
visit to Wave Hub, said: “This was a great opportunity to brief the
Minister on progress with Wave Hub, and for him to meet some of the
many businesses and academics involved in developing a marine
renewables industry here in the South West.”
OPT, based in Warwick, is developing a scaled-up 500kW version
of its existing 150kW Powerbuoy wave energy device, which converts
the power of the waves into electricity. It will be working with
A&P Falmouth and the Peninsula Research Institute for Marine
Renewable Energy - a collaboration between the Universities of
Plymouth and Exeter - during the development phase. The company
also hopes to deploy a 150kW version of Powerbuoy at Wave Hub.
Angus Norman, chief executive of OPT, said: “This award is a
tremendous endorsement of OPT’s technology and more than six year’s
research and manufacturing investment by the company in the UK. We
share the Government and the RDA’s vision that the UK has a unique
opportunity to leverage its geographic location and engineering
expertise to harness wave power for abundant, safe and renewable
energy as well as a source of new jobs and industrial regeneration.
We also believe our next generation PB500 PowerBuoy will be
competitive in larger production volumes with fossil fuel-based
energy.”
Mr Prisk’s two-day trip to Cornwall also includes visits to the
Combined Universities in Cornwall campus at Tremough, the newly
opened Pool Innovation Centre and marine engineering company Fugro
Seacore in Falmouth.
Notes to Editors
- The Government’s £18.5m package of support for the marine
energy sector includes £9.5m of funding towards the Wave Hub
project; £5m of BIS support for infrastructure to unlock the Hayle
marine renewables business park and a £4m investment towards the
Marine Building on the University of Plymouth Campus as part of the
Plymouth Science and Innovation Programme.
- Wave Hub is a major marine renewables infrastructure project
that will create an electrical ‘socket’ on the seabed in some 50
metres of water around 16kms (10 miles) off the coast of Cornwall
in South West England and connected to the National Grid via a
subsea cable. Groups of wave energy devices will be connected to
Wave Hub and float on or just below the surface of the sea to
assess how well they work and how much power they generate before
being commercially produced and deployed. There are four berths
available at Wave Hub, each covering two square kilometres. Wave
Hub will have an initial maximum capacity of 20MW (enough
electricity to power approximately 7,000 homes) but has been
designed with the potential to scale up to 50MW in the future. The
first wave energy devices are expected to be deployed in 2011.
- Wave Hub is being funded with £12.5 million from the South West
RDA, £20 million from the European Regional Development Fund
Convergence Programme and £9.5 million from the UK government.
- The £15m infrastructure project at Hayle to enable the
development of a Marine Renewables Business Park involves spend of
£5m from BIS, £5 from Cornwall County Council and £5m from European
Regional Development Fund. Planned infrastructure developments
include a new bridge; construction of a new road; flood protection
works and restoration of harbour walls.
- The Plymouth Marine Building on the University of Plymouth
Campus will house the new PRIMaRE (Peninsula Research Institute for
Marine Renewable Energy) funded wave tank testing facilities, and
will enable collaboration between researchers and
entrepreneurs.