UK renewables auction results have been met with approval by key industry players, especially after six tidal stream projects secured contracts. This success is seen as a positive indicator of growth in the tidal energy sector. A total of five developers have secured contracts, leading to the development of 28 MW of tidal stream energy across the UK.
The Allocation Round 6 (AR6) contracts have benefited a number of companies, including HydroWing, which is expected to deliver 10 MW of energy in Wales. In Scotland, MeyGen will provide 9 MW, Seastar will contribute 4 MW, Magallanes 3 MW, and Ocean Star Tidal will deliver 2 MW. The total for the projects amounts to 18 MW.
Notably, HydroWing’s project at Morlais has been expanded to 20 MW, with an additional 10 MW awarded through the AR6 contracts for difference (CfD) allocation. According to Inyanga Marine Energy Group, this expansion strengthens the project’s commercial viability through economies of scale. The company expressed pride in their achievement, highlighting the team’s hard work and commitment to expanding operations in Anglesey in partnership with Morlais Mentor Mon.
In support of its project at Morlais, Inyanga Marine Energy opened a new office in Wales earlier this year, showing their commitment to developing tidal stream energy in the region. Another significant project, MeyGen, owned by SAE Renewables, has added 9 MW to its capacity, bringing the total under development to 59 MW. This phase is in addition to the 6 MW already operational. SAE’s CEO emphasised the project’s importance for the industry and the UK as a whole, expressing dedication to its continued success.
Nova Innovation, a Scottish company, also secured contracts for its Seastar and Oceanstar tidal energy projects in Orkney as part of the CfD auction. Nova Innovation’s CFO praised the team for their ability to achieve solid results while continuing to innovate in marine energy.
Magallanes Renovables, another Scottish firm, secured a power purchase agreement (PPA) for 15 years. The company views this as further evidence of their commitment to unlocking the potential of ocean currents for a sustainable future, having already been awarded several similar projects in the past three years.
The contracts secured by these tidal energy developers highlight the growing confidence in the sector, supporting further innovation and economic development in the UK.
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.
