New boost for the tidal industry with 28 MW allocated in the latest UK renewable auctions
The UK government announced the award of 6 new tidal projects under its Contracts for Difference (CfD) scheme. The Allocation Round 6 (AR6) is the third consecutive round including a ring-fenced budget for tidal stream energy. This confirms once again the growing momentum for tidal energy in the UK. This additional £15m investment from the […] The post New boost for the tidal industry with 28 MW allocated in the latest UK renewable auctions appeared first on Ocean Energy Europe.
The UK government announced the award of 6 new tidal projects under its Contracts for Difference (CfD) scheme. The Allocation Round 6 (AR6) is the third consecutive round including a ring-fenced budget for tidal stream energy. This confirms once again the growing momentum for tidal energy in the UK. This additional £15m investment from the government is set to provide much-needed long-term certainty and further boost private investment.
In Scotland, projects led by OEE members SEA Renewables, Nova Innovation, and Magallanes will deliver 18 MW of new capacity. In Wales, HydroWing will bring another 10 MW.
AR6 adds 28 MW of tidal projects on top of the already contracted 93 MW from the previous two rounds, bringing the pipeline of tidal farms to be deployed by 2029 in the UK to 121 MW. This marks a key milestone on the road to industrialisation for the sector. This clearly demonstrates that national revenue support systems are highly efficient in unlocking ocean energy pre-commercial farm scale projects.
The post New boost for the tidal industry with 28 MW allocated in the latest UK renewable auctions appeared first on Ocean Energy Europe.
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