Bill Esterson MP hosts roundtable to discuss the UK’s £50bn marine energy potential
Written by UK Marine Energy Council on .
Chair of the Energy Security and Net Zero Committee, Bill Esterson MP, this week met marine energy sector to discuss how tidal stream and wave energy can support the Government’s ambition, to make the UK a Clean Energy Superpower
The UK has over 30GW of marine energy potential, and tidal stream projects are currently being deployed with over 80% UK supply chain content spend. According to a recent report from the University of Edinburgh, through the UK leading in growing global export markets marine energy could by 2050:
Add £50bn GVA to the UK economy
Support 90,000 jobs in coastal areas and beyond.
Power over 8 million homes through harnessing UK waves and tides.
The industry is making significant progress with the Welsh Government investing £2m investment in Inyanga Marine and delivery of its 20MW Anglesey tidal stream project, and CorPower Ocean’s agreement to deliver a 5MW wave energy array in Orkney.
The roundtable was an opportunity to discuss how Westminster can work with the industry to build on this momentum and seize the marine energy opportunity.
Bill Esterson MP said:
“Marine energy is strongly positioned to support the Government’s ambition to make the UK a Clean Energy Superpower. I welcome the investment and progress industry is making in commercialising tidal stream and wave energy, and the jobs, supply chain and export opportunities that will create.
“Realising the UK’s marine energy potential requires industry, government and parliament working closely together. I look forward to continuing to support these efforts as Chair of the ESNZ Select Committee.”
Richard Arnold, MEC Policy Director, said:
“Projects are currently being deployed with over 80% UK supply chain content spend, creating jobs in UK coastal communities and beyond. Our ambition is to see high levels of UK supply chain content embedded in projects deployed here and around the world.
“The industry welcomes Bill’s ongoing support for the sector, and taking the time to discuss how we realise the UK’s marine energy potential.”
The ESNZ Select Committee is currently exploring how the transition to net zero can make energy cheaper for UK households and businesses. Modelling has shown that due to the predictability of tidal stream, and the complimentary role that wave has with wind, marine energy can reduce energy system costs by over £1bn per annum.
