Tidal Energy Companies to Benefit from 5 ROC (UK)
As the UK government has announced plans to down grade the level of financial support for on and offshore wind and boost support the wave and tidal sectors, companies in this fledgling marine market stand much to gain.
Marine renewable power developers were recently left stunned after the Governments proposed increases in the level of financial support available to their industry. The UK’s tidal and wave power sectors recently saw the existing 2 ROCs per MWh upped to 5 ROCs for projects up to 30 WM following the recent banding review.
The UK Government’s aims are to attract global developers to the UK, ensuring a marine industry takes hold.
This is the time that the wave and tidal energy industry has been waiting for. It’s been a long time coming but now the industry can focus on what it does best – engineering and project delivery.
The Government’s confidence in this nascent market is a welcomed sign as Investors have been given a clear signal that they will see a return on their investments, heralding a significant turning point for the tidal energy sector.
However, with 700MW of installed capacity on the table by 2020, the industry has a great deal to accomplish in the next decade if tidal energy is going to be a viable resource. Developers will have to work to tight timelines with roughly five years to get projects from demonstration to proven commercial scale.
It is therefore imperative that the industry continues to engage with other experienced and capable organisations such as large scale manufacturers and Utility companies to help deliver fully functioning arrays.
That’s why key representatives from Vattenfall, Scottish Power Renewables, TGL (Rolls Royce), MCT, Atlantis Resources, Hammerfest Strom, Voith, Pulse, Tocardo, Tidal Energy Ltd, EMEC, FORCE (Fundy Ocean Research Center for Energy), Narec, Gurit and many more are coming together to discuss their experiences and ideas for cost effectively installing, operating and maintaining small scale multi megawatt arrays alongside 200 other industry individuals.
Source: tidaltoday, November 03, 2011