| The UK government announced the award of six new tidal projects under its Contracts for Difference (CfD) scheme. The Allocation Round 6 (AR6) provides £15 million in investment (USD$19.6 million) from the UK government AR6 to support 28 megawatts (MW) of new tidal projects. AR6 is the third consecutive round of funding, adding to the already contracted 93MW from two previous rounds, bringing the pipeline of tidal farms to be deployed by 2029 in the UK to 121MW. Rémi Gruet, CEO of Ocean Energy Europe, an organization whose mission is to support the development and deployment of ocean energy said, “The UK’s success with tidal CfDs shows that governments can swiftly deliver multi MWs ocean energy farm scale projects with earmarked revenue support. This should light the way for other European countries with wave and tidal resources to follow suit to unlock the full potential of ocean energy. Such measures brought wind and solar to the market and will be equally crucial for ocean energy. “ Projects include those led by SEA Renewables, Nova Innovation, and Magallanes in Scotland which will deliver 18MW of new capacity. In Wales, HydroWing will bring another 10MW. |
| Media Contact: Yamila Conill, Ocean Energy Europe [email protected] |
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