The UK’s renewable energy sector is witnessing a significant surge in tidal stream capacity, thanks to the establishment of a dedicated support mechanism for this technology in 2022. The first ringfence secured contracts for over 40MW of tidal stream capacity, with the second round exceeding 50MW, marking an important milestone for the sector.
This targeted approach has already spurred tangible developments. Companies such as HydroWing have expanded their operations into north Wales to advance their projects, while SAE Renewables is set to deliver the world’s largest tidal stream project in the Pentland Firth. Additionally, there has been a wave of investment across the UK’s marine energy supply chain, further solidifying the country’s leadership in this area.
A notable achievement is that over 80% of the supply chain content for these tidal stream turbines is sourced from within the UK. The Marine Energy Council (MEC) aims to maintain this level of UK involvement not only in domestic projects but also in global deployments.
On 31st July, the UK Government announced an increase in the tidal stream ringfence funding for this year’s renewable auction from £10 million to £15 million. This boost is anticipated to add an additional 25MW to the UK’s tidal stream deployment pipeline.
Sue Barr, Chair of the MEC, praised the government’s decision, highlighting the UK’s role as a global leader in tidal stream technology. She expressed confidence that this move would help the UK harness its tidal power potential and position it as a major player in exporting tidal stream technology and expertise worldwide. Barr also emphasised that the government’s ambition to make Britain a clean energy superpower could be significantly advanced by the development of tidal stream technology.
SAE Renewables Limited (LON:SAE) was founded in 2005 as a supplier of tidal stream turbines, SAE quickly grew to include development of tidal stream projects and is the majority owner of MeyGen, the world’s largest tidal stream energy project.
