The Marine Energy Council welcomes the creation of Great British Energy and its partnership with the Crown Estate
Written by UK Marine Energy Council on .
The Government has today introduced the Great British Energy Bill, which could play a key role in realising the UK’s marine energy potential.
Great British Energy’s mission is to drive clean energy deployment to create jobs, boost energy independence, and ensure UK communities reap the benefits of clean, secure, home-grown energy.
The UK has over 30GW of untapped marine energy potential. This can be harnessed with UK supply chains, creating jobs and securing investment in coastal communities and beyond. Tidal stream projects are currently deployed in Scottish waters with over 80% UK supply chain content spend.
After successive ringfences in its renewable auctions the UK is now on course to have over 100MW of tidal stream capacity deployed in its waters by 2028. It is the MEC’s ambition to see UK supply chain content embedded in projects deployed here and around the world.
Critical to realising the UK’s marine energy potential is removing barriers to getting technology in the water. Prior to bidding into the UK’s renewable auctions (the Contracts for Difference mechanism) projects require a lease agreement, marine licence and grid offer. This can be a costly and time-consuming process.
The partnership between Great British Energy and the Crown Estate, to support early site development will expediate marine energy deployment and create a strong pipeline of eligible capacity for future renewable auctions. This will be key in the growth of tidal stream and wave energy industries, creating green jobs and supply chains across the UK and in keeping Britain at the cutting edge of the energy transition.
Richard Arnold, the MEC’s Policy Director, welcomed today’s announcement:
“The UK has the rich natural resources and maritime expertise to lead the world in marine energy. Today’s announcement could make it easier for tidal stream and wave energy projects to deploy here in the future and bolsters investor confidence in these critical technologies.
“To build on the momentum the Government has created it is vital that the tidal stream ringfence is increased from £10m to £30m in this year’s renewable auction.
“The marine energy industry looks forward to working with Great British Energy to realise the potential of tidal stream and wave energy as leading home-grown clean energy resources.”
