The Marine Offshore Renewable Group (MOR Group) has welcomed a report undertaken by the Offshore Renewable Energy Catapult highlighting the potential economic and industrial benefits of wave and tidal stream energy.
MOR Group members from Cornwall contributed to the report, and thus have a high degree of confidence in, and endorse, its findings.
The report demonstrates that both sectors have the potential to significantly reduce costs, offering the UK the opportunity to diversify its renewable energy base and improve its energy security.
The report, says MOR, is also evidence of the clear benefits of sustained long-term investment, from national and regional government, in the R&D programmes and infrastructure, such as WaveHub and FabTest.
MOR Group chairmen, Steven Jermy, said: “Harnessing the power of the sea, through wave and tidal energy, is no easy task. Wave and tidal energy sites are, in my offshore experience, amongst the most challenging coastal construction sites in the world.
“But this challenge is also an opportunity, in that the power in these offshore sites is high. The sites, therefore, have the potential to contribute substantially to the grid, even with relatively small project areas.
“We are delighted that a respected independent party, the Offshore Renewable Energy Catapult, has demonstrated that commercialisation of tidal stream and then wave energy is within our grasp. And we are determined as an industry to build on our world leadership in wave and tidal and secure the regional economic, jobs, and export opportunities that can flow from this.