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But the projects are all at an early stage of development and need public money to help them become commercially viable. Only one, the Marine Current Turbines operation in Strangford Lough, Northern Ireland, is producing a meaningful amount of electricity for the National Grid.
Marine Current Turbines has appointed Dr Andrew Tyler as its new chief executive. Tyler, former COO at the UK Ministry of Defence’s Equipment & Support organisation, joined MCT on July 1.
The government has taken an axe to funding for marine energy despite the prime minister's promise before he took office to put "rocket boosters" under the sector. Ministers have decided to give £20m to kickstart commercial wave and tidal operations, instead of the £50m that was originally set aside under the marine renewables deployment fund.
Thousands of jobs will be created in the UK as new power stations are built and begin operating in the coming decades. The plants will replace old nuclear and conventionally fuelled power stations that are reaching the end of their lives, reducing energy generating capacity by 30 per cent over the next 15 years. One third of the UK's coal-fired stations have to close by 2015 under European rules.
The UK's hugely impressive tidal turbine developer, Marine Current Turbines (MCT), has had a device in the waters of Strangford Lough for several years. This early turbine has produced 50% of its rated power. The difference is important: it means that electricity generation costs are 25% lower than the CCC would otherwise have predicted.
The global marine power industry could be worth as much as 460 billion pounds ($760 billion) by 2050, with the U.K. comprising a sixth of the market, Carbon Trust said today. Power generated from the waves and tides could bring 76 billion pounds to the British economy, including 68,000 jobs created over four decades, the government-funded trust said. Those jobs would be due to growing export markets in countries such as Chile, the U.S. and European nations on the Atlantic, it said in an e-mail.
A government thinktank has predicted that the British marine energysector could be worth £76bn to the economy and support 68,000 jobs by 2050. The analysis, released this week by the Carbon Trust, comes only weeks after coalition ministers ended the industry's subsidy programme.
British tidal power technology developer Marine Current Turbines (MCT) hopes to deliver one of Scotland’s first tidal energy operations after securing a lease agreement from the Crown Estate for a four-turbine array.
As the narrowest stretch of water between Skye and the mainland, Kyle Rhea is already a seaway with history, but the power of its tides could soon write another multi-million pound chapter. A provisional agreement has been struck that would give a marine energy company access to the seabed to install a £40 million four-turbine tidal farm in Kyle Rhea, the first off the coast of Skye. It would be capable of providing power to 8000 homes.
A £40m tidal farm planned for waters off Skye has moved closer after securing an agreement for its lease from the Crown Estate. The four-turbine development by Marine Current Turbines (MCT) is planned for Kyle Rhea, the strait between Skye and the Scottish mainland.
A Bristol-based company has secured the lease of part of the seabed off Skye to deploy four tidal turbines.
Plans for a power-generating tidal farm off the north Wales coast have been submitted. The £70m project for the underwater turbines, off the north west coast of Anglesey, was first announced three years ago.
Wave and tidal energy are set to take off as utilities including Germany’s E.ON AG, Iberdrola SA’s Scottish Power unit and Sweden’s Vattenfall AB step up investment in the new industry, the U.K.’s Carbon Trust said.
MCT is a leading player in the development of tidal current turbines and its 1.2MW SeaGen tidal energy device in Northern Ireland’s Strangford Lough has been generating power into the local grid since 2008. It is the only tidal stream device in the UK to be accredited by regulator Ofgem as a “power station” and has the capacity to generate power for the equivalent of 1,500 homes.