The UK marine energy industry is already making a positive impact in every part of the UK. It is now more than a decade since the European Marine Energy Centre (EMEC) was established in Orkney and in that period UK has become a global centre of excellence in marine energy.
There are around now 1,700 people working in the UK wave and tidal sectors with nearly £450 million spent to date in the UK supply chain. This could grow to over 20,000 skilled jobs in the next decade.
Through policy frameworks and technology support programmes established by UK Government, the Scottish Government and its agencies, to innovation programmes sponsored by universities and their funding councils, no other nation has greater ‘strength in depth’ than team GB. This ‘innovation ecosystem’ has drawn significant investment and industrial interest from within the UK and overseas, with some of the world’s leading businesses taking a stake.
Firms include ABB, Andritz Hydro, Siemens, SSE, Alstom, Global Energy Group, Fred Olsen, Total and DCNS amongst others have all made investments in the sector, and the roll-call of companies which have been to EMEC reads like a ‘Who’s who’ of marine energy innovation.
So far, every £1 of public money invested in major marine energy businesses has leveraged £7 of private investment, and more than 77 percent of this investment has been spent in the UK supply chain.