OYSTER GENERATES £1M FOR ORKNEY ECONOMY
19 Nov 2009
The installation of Aquamarine Power’s Oyster device, which will be switched on by Scotland’s First Minister later this week, has generated over £1 million expenditure in the Orkney economy according to figures released by the company today [19 November 2009].
The installation of the device, which took place this summer at Billia Croo near Stromness, involved more than 30 local companies ranging from engineering and construction contractors to environmental consultancies, diving and vessel hire, events organisers and photographers. Aquamarine Power’s actual expenditure on local contractors and suppliers comes to over £1 million.
In addition, the company had seven staff working full-time in Orkney during the installation of the Oyster device.
Martin McAdam, Chief Executive Officer of Aquamarine Power, commented:
“Our figures demonstrate the positive impact that wave energy can have on the Orkney economy.
“A successful Oyster project would unlock £3-4 million of capital expenditure per MW installed, of which a significant proportion would be invested in the Orkney economy. A commercial wave farm could therefore represent a significant boost to the local economy and would provide long-term skilled jobs for local residents.
“Ongoing operations and maintenance would generate a further £150,000 per annum to the local economy.”
Stephen Hagan, Convener of Orkney Islands Council said:
“Orkney’s efforts to support the development of marine renewables in Scotland has been further rewarded with the successful installation of Aquamarine Power’s Oyster device. The skills and experience developing in the county will help ensure that Orkney remains at the forefront of renewable energy developments into the future.
“We remain committed to supporting this sector and ensuring that Orkney can put forward the best it has to offer, to optimise further growth and expansion in the industry.”
Scotland’s First Minister Alex Salmond MP, MSP will officially switch on Oyster on 20 November 2009 when it will begin producing electricity by pumping high pressure water to its onshore hydro-electric turbine. This electricity will be fed into the National Grid to power homes in Orkney and beyond. A farm of 20 Oysters will provide enough energy to power 9,000 three bedroom family homes.
Oyster is Aquamarine Power’s first demonstration-scale wave energy device. Its performance will now be monitored and the results from the testing will provide a basis for the design of the next-generation commercial-scale Oyster.
Oyster is designed to capture the energy found in nearshore waves in water depths between 10 and 16 metres. The benefit of Oyster is its simplicity. There are minimal moving parts and all electrical components are onshore, making it robust enough to withstand the rigours of Scotland’s harsh seas.
Ends
For further information, contact:
Buchanan Communications
Diane Stewart 0131 226 6150
dianes@buchanan.uk.com
Carrie Clement 0131 226 4427
carriec@buchanan.uk.com
Notes to Editors:
Aquamarine Power
• The Oyster system consists of a hinged flap connected to the seabed at around 10m depth. Each passing wave moves the flap which drives a hydraulic piston to deliver high pressure water to an onshore turbine which generates electricity.
• Aquamarine Power’s specialist technical advisors include wave energy pioneers Professor Trevor Whittaker, head of the award-winning wave power research group at Queen’s University, Belfast, and Professor Stephen Salter, creator of the ‘Salter Duck’.
• Aquamarine Power has won numerous national and international awards for innovation in the renewable energy sector including ‘Emerging Technology Promoter of the Year’, (Global Renewable Energy Awards 2008), ‘Innovator of the Year’ (British Renewable Energy Awards 2009) and ‘Best Green Industry SME’ (Scottish Green Awards 2009).
• In 2007 Aquamarine Power joined forces with Scottish and Southern Energy subsidiary, Renewable Technology Ventures (RTVL), securing a £6.3m investment from SSE and a further £1.5m from Sigma Capital Group plc.
• Aquamarine Power has received significant funding and support from Scottish Enterprise, Highlands and Islands Enterprise, the Technology Strategy Board, the Royal Academy of Engineering, the Engineering and Physical Sciences Research Council (EPSRC) and the Scottish Government.
• Oyster is a registered trade mark of Aquamarine Power.
Visit www.aquamarinepower.com
Marine resources
• The marine energy industry could provide as many as 12,500 jobs, contributing £2.5 billion to the UK economy by 2020.
• Marine energy has the potential to meet up to 20% of the UK’s energy demands.
