THE steps needed to keep the UK at the forefront of the wave and tidal energy sectors have been revealed in a new report.
The National Subsea Research Initiative (NSRI) research highlights the opportunities and challenges for technology developers and subsea supply chain companies looking to make a business in these sectors.
Titled The Wave & Tidal Transformation report, the analysis outlines how and where companies can get involved with the developing sector and the requirements for industry driven research.
To date, more than £450 million has been spent across the UK wave and tidal supply chain and the global industry is forecast to be worth up to £76 billion by 2050.
NSRI has identified the need for a dedicated taskforce, supported by industry and government to drive forward technology development, knowledge sharing and stewardship for strategic direction and industry-wide promotion.
Scottish Energy Minister, Paul Wheelhouse said: “I welcome this report which further highlights the enormous potential of our wave and tidal energy industries.
“With our supportive policy environment, skilled supply chain and expertise in energy innovation, Scotland is the natural home for marine energy development and well placed to benefit from the enormous global market for wave and tidal energy.
“The Scottish Government continues to support the research, development, innovation and demonstration that will maintain Scotland’s competitive advantage, and is committed to working with the sector to find a way to ensure it receives the support which will enable it to flourish.”
The report also highlights the outcomes from the recent NSRI Mastermining workshop which saw NSRI work in partnership with the ORE Catapult and Energy Technology Partnership (ETP) to carry out in-depth research into the wave and tidal sectors.
These outcomes include the identification of areas that subsea oil and gas could offer cost effective solutions to, such as materials and corrosion, installation and integrity management.
Tony Laing, NSRI director of research and market acceleration, said: “Like most emerging sectors, the wave and tidal industries need to identify ways to reduce costs and improve efficiency, and our subsea technology industry can play a very important part in that, leveraging value of knowledge transfer across the whole blue economy.
Andy McDonald, sector director, energy and low carbon technologies at Scottish Enterprise, commented: “To ensure Scotland maintains its world leading position in subsea engineering, we must continue to develop new opportunities, whilst broadening the delivery of new technology.
Key to this is looking at how we adapt the knowledge and experience gained from more than 40 years in the oil and gas sector, to support the ongoing development of wave and tidal energy, which has huge economic potential for Scotland.”
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