INDUSTRY VIEWPOINT Industry viewpoint
There are a number of companies which have been working in the industry for some time so we thought we should give our readers the views of one of the leaders in the field – if you would like to get involved and give your views please do not hesitate to get in touch.
AQUAMARINE’S CEO MARTIN MCADAM EXPLAINS…
Aquamarine Power is just over nine years old and I joined the company almost six years ago. When we started out on this journey I guess we all believed that we would be there by now!
The initial exuberance and excitement at creating a new technology to extract electricity from ocean waves then subsided. It was replaced by a reality that this challenge is bigger, more difficult, more expensive and will take longer than we originally thought.
PREDICTIONS
At that time we as a company and as an industry, were confidently predicting the first working wave farms in our waters by about now. But as we can see, although the first tidal farms are now on the near horizon, the first successful wave arrays are still a few years off.
OPPORTUNITY
Untapped ocean waves represent a huge opportunity. This technology will be developed and the world will embrace the technology in the same was as we saw gas and wind being embraced in our energy mix.
We may not be there yet but the UK’s wave energy industry is already a tremendous success. In Orkney, one of the most remote communities in Europe, more than 200 people already work in the wave and tidal sector. Aquamarine Power has already spent more than £6 million in the local economy, working alongside more than 40 local firms.
LONG TERM INVESTMENT At Aquamarine Power, we employ 50 people in high quality, permanent skilled posts in our office in Edinburgh, our research facility at Queen’s University Belfast and our operations base in Orkney. Our business has raised more than £60 million private investment, leveraged by around £12 million of public support and boasts SSE and international power firm ABB as major shareholders.
PROJECT REALITIES
We have consented the world’s first ever wave farm, in Lewis, with the potential to generate hundreds of local jobs and have installed and operated two full scale Oyster machines at the European Marine Energy Centre in Orkney. Our flagship Oyster 800 has produced significant amounts of electrical power and has proved its survivability through three full winters and withstood storms with waves in excess of eight metres.
INDUSTRY NEEDS
A successful industry requires several mature technologies, a willing customer base and a healthy supply chain. The industry needs to be developed within a policy framework that gives investors confidence to invest in developing the technology, gives customers the confidence to buy the technology and provides an economic return in terms of jobs and community benefits.
The UK and Scotland in particular has given this industry a tremendous start. The grant framework, a feed in tariff under EMR and proposals to further develop the grid are all steps to creating the industry. Some work done but much more to do.
A BETTER UNDERSTANDING In the early days of the industry we have been over-optimistic – this optimism was fuelled by a lack of information. Now, as an industry, we are more mature. Today we have much more real data on the ocean environment, the limitations of some of the technologies available to us, the cost and performance of machines, a better understanding of grid and consenting timelines and a realistic view of the finance required. This means all sides of the debate – the public sector, industrial investors and technology developers – have a much more grounded view of how our industry will develop and grow.
PAGE 04
www.wavetidalenergynetwork.co.uk
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52