The Department of Energy & Climate Change has announced that the world’s biggest tidal array is to be built in North Scotland.
The UK Government has provided £10 million worth of grant funding to the Meygen project, which will provide enough electricity to power 175,000 homes and provide up to 100 jobs when fully completed. Other funders include the Scottish Government and The Crown Estate.
DECC said the £51m scheme could inspire further projects in the Pentland Firth.
Energy Secretary Ed Davey commented:
“This innovative and exciting project puts Scotland and the UK on the map as a global leader in marine technology – meaning jobs, better energy security and the potential to export this technology to the world.
“Meygen will be the biggest tidal stream array in the world, providing enough electricity for 175,000 homes and 100 ‘green jobs’ when completed.
“Wave and tidal power have the potential to provide more than 20% of the UK’s electricity needs, and Meygen could pave the way for future projects in the Pentland Firth.”
The money comes from the Marine Energy Array Demonstrator (MEAD) scheme, part of £185 million the UK Government is investing in low-carbon technologies.
The UK alone has around 50% of Europe's tidal energy resource. The UK’s geography means that wave and tidal stream energy could meet 20% of the UK’s electricity demand.
Renewable energy generation is expected to play a major role in replacing one-fifth of the UK’s aging coal and gas fired power plants which are due to be brought off-line by 2020.
The Meygen project forms part of the £100 billion of private sector investment the UK Government aims to attract in new cleaner electricity infrastructure between now and 2020. The £100 billion of investment is expected to create a total of 250,000 jobs in the low-carbon electricity sector by 2020.
The funding syndicate providing the project finance includes Atlantis Resources, DECC, The Crown Estate, the Scottish Government via the Renewable Energy Infrastructure Fund and Highlands & Islands Enterprise.
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