Aquamarine Power in European funding bid
12 May 11
A collaborative project bringing together three of Europe's
leading utilities and wave energy technologies provided by
Aquamarine Power and Pelamis has been selected by the UK Government
for a major European funding bid.
The Pentland Orkney Wave Energy Resource (POWER) Ltd project is
the only wave energy bid being put forward by the UK Government to
the European Investment Bank (EIB) for consideration in the first
round of the EU's New Entrant Reserve (NER300) scheme - a fund
worth around EUR4.5 billion to support carbon capture and storage
(CCS) and innovative renewable projects across the European
The POWER project aims to deliver the world's first large-scale
grid-connected demonstration of a wave energy farm with a total
generation capacity of 28 MW.
If successful, the project will comprise ten near shore
Aquamarine Power Oyster 3 devices and 24 offshore Pelamis machines
within the Pentland Firth and Orkney Waters leasing area, operating
in multi-device array configurations. Both of these technologies
are leaders in their field, having been successfully demonstrated
at small scale. The project will have a single point of connection
to the onshore grid.