Oyster generates £1m for Orkney economy
19 Nov 09
We are pleased to announce that the installation of our Oyster
wave energy device has generated over £1 million expenditure in the
Working with local companies
More than 30 local companies were involved in the installation
of our wave power device, which took place this summer at Billia
Croo near Stromness, ranging from engineering and construction
contractors to environmental consultancies, diving and vessel hire,
events organisers and photographers. Our actual expenditure on
local contractors and suppliers comes to over £1 million.
In addition, we had seven staff working full-time in Orkney
during the installation of our Oyster device.
Martin McAdam, our Chief Executive Officer, commented:
"Our figures demonstrate the positive impact that wave energy
can have on the Orkney economy.
Providing skilled jobs
"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
"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 have 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.
Optimising industry growth
"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."