Supergen Offshore Renewable Energy (ORE) Hub’s Post

If you have some spare time this afternoon, is there a better way to spend it than reading our 2024 UK Ocean Energy Review? Featuring a foreword from Michael Shanks MP, Minister for Energy, our report summarises the progress made by the ocean energy sector at a crucial moment for renewable energy technologies. With the recent Clean Power 2030 plan outlining the need for a rapid increase in renewable energy sources over the next five years, this report highlights the sector progress, illustrating the role that ocean energy can play in helping to get us there! Full report can be downloaded here: https://lnkd.in/eiBSZRXX

This report provides a useful update on progress in wave and tidal energy in the UK, well worth a read:

🌊 NEW: 2024 UK Ocean Energy Review, download here https://lnkd.in/ePJP8-c7 📣 A YEAR OF MARKED PROGRESS FOR THE UK OCEAN ENERGY SECTOR 🤝 The Policy and Innovation Group at the University of Edinburgh, in collaboration with the Supergen Offshore Renewable Energy (ORE) Hub, Wave Energy Scotland and the UK Marine Energy Council, are pleased to announce the publication of the 2024 UK Ocean Energy Review. ✍ This year we are pleased to have included a foreword by Michael Shanks MP, Minister for Energy at the Department for Energy Security and Net Zero, who provides a strong endorsement of the sectors progress and acknowledges the growing role that ocean energy technologies can play in a future UK energy system. 🌍 We hope that this report is able to further underline the progress made by the wave and tidal stream sectors over the last year, by updating on the advances made by the UK's world-leading technology developers; its cutting-edge R&D projects; and its internationally renowned test centres. Professor Henry Jeffrey, Head of the Policy and Innovation Group, writes: "As our report outlines, 2024 has been a year of significant progress in the UK ocean energy sector. I'm delighted to see that the pipeline of tidal stream projects awarded through the CfD scheme has now expanded to over 120MW, which will ensure that sector makes a meaningful contribution to the UK's 2030 clean power targets. Similarly, the progress made by the wave energy sector should not be overlooked, with recent analysis showing the potential to create over 15,000 jobs across both these sectors in 2050, enabling UK ocean energy to punch far above its weight in terms of contributing to national Just Transition commitments.   Of course, it must be remembered that for the sector to achieve these outcomes on the desired timescales, we will need to move away from a business-as-usual approach and ensure that serious policy support is delivered rapidly and in a sustained fashion" The report can be downloaded here: https://lnkd.in/ePJP8-c7 #OceanEnergy #WaveEnergy #TidalEnergy #EnergyPolicy #CleanPower2030 #Innovation #NetZero

Great to see this report from The University of Edinburgh's Policy and Innovation Group highlighting the important role tidal stream energy can play in a low-carbon future energy system and the exciting opportunity for a scalable industry grown here in the UK.

TIDAL ENERGY POWERS FAROE ISLANDS' RENEWABLE GOALS Ocean energy developer Minesto and Faroese utility SEV have renewed their power purchase agreement (PPA) for tidal energy, strengthening the Faroe Islands' transition to 100% renewable electricity by 2030. The updated two-year PPA covers three tidal power plants in Vestmanna and includes an adjusted electricity to better reflect the overall value of tidal energy. This extension continues the world's first commercial tidal energy off-taker deal using Minesto's technology. "The updated PPA underlines the value of tidal energy in the Faroe Islands' energy mix," said Minesto CEO Dr. Martin Edlund. SEV's Terji Nielsen added they are "hopeful tidal energy will play a vital role" in reaching 100% sustainable generation. Minesto recently hit a milestone with its 1.2 MW "Dragon 12" tidal kite system in Vestmanna, marking three months of continuous grid-connected operation since installation in February 2024. The company aims for a 200 MW Faroese tidal buildout across seven sites, meeting around 40% of the island's future demand. ⚡ Follow MPS (Modern Power Systems) for all the latest news daily from the global power generation industry ⚡ #MPS #power #energy #powergeneration #hydropower #tidalpower

The marine energy sector has made great progress towards commercialisation in 2023, according to the latest statistics released today by Ocean Energy Europe. Responding, Chief Executive Claire Mack said: “Our world-leading marine energy industry will provide a predictable, low-carbon energy source and will play a key role in in delivering clean power to our future energy system. “The latest statistics released by Ocean Energy Europe show clearly that the UK’s marine energy industry has a bright future and it is encouraging to see the projects we have in development making such substantial progress towards commercial deployment. We have high hopes that a significant number of these projects will be successful in Contracts for Difference Allocation Round 6, the results of which will be announced later this year. “Scotland will welcome the Ocean Energy Europe conference later this year and I look forward to working closely with all the key players in the industry on how we can create a thriving marine energy economy with multiple projects deployed at scale around the UK coastline.” https://lnkd.in/eme9R8YJ #renewables #marineenergy #netzero

The latest statistics released in May 2024 from Ocean Energy Europe highlight a significant acceleration in the ocean energy sector. The trade body reports that 137MW of tidal and wave energy projects are set for deployment within the next five years, supported by EU funding and national revenue initiatives. France and the UK have introduced per/kWh support for tidal farms, boosting the tidal energy pipeline to 127MW over the same period. Wave energy is also making strides in technological readiness, as evidenced by increased private investment in current projects. Claire Mack, Chief Executive of Scottish Renewables, said: “The latest statistics released by Ocean Energy Europe show clearly that the UK’s marine energy industry has a bright future and it is encouraging to see the projects we have in development making such substantial progress towards commercial deployment." Ocean Energy aims to provide 10% of Europe’s current electricity needs by 2050, enough to power 94 million households per year. Join us to amplify renewable energy projects from our network in the coming months. 🤝 Sign up: https://lnkd.in/ePmZPs3A #GreenVoices #Renewables #RenewableEnergySolutions #GreenEnergy #RES

🌊 Interested in the ocean energy sector? Ocean Energy Europe today released its Stats & Trends 2023 report.

I’m excited to share a groundbreaking study conducted by #NREL and supported by #WPTO. The report highlights that #tidalenergy could play a pivotal role in decarbonizing Alaska’s Railbelt grid by 2035. With the potential to provide the grid with up to 300 megawatts of clean energy—enough to power nearly the entire city of Anchorage—tidal energy could reduce its carbon emissions by 37% and stimulate economic growth through clean fuel production. 🌊⚡️ Explore this promising development further here: https://lnkd.in/ePn3UAtk For more information about renewable energy on the Railbelt, see NREL’s report, https://lnkd.in/eazD9igJ. #TidalEnergy #CleanEnergy #Renewables #Decarbonization #AlaskaEnergy

The APAC Wind Energy Summit is set to make its return to Melbourne in 2025. Previously known as the Offshore Wind and Green Hydrogen Summit, the Global Wind Energy Council’s (GWEC) flagship conference and exhibition will bring together industry leaders, policymakers, and institutions to develop innovative and collaborative solutions addressing the challenges in supply chain and market design in wind energy development. #renewable #renewableenergy #wind #australia