The Scottish Government announced on 26 August that it has awarded engineering company Orbital Marine Power £3.4mn in funding for its floating tidal turbine.
The funding will be used to deliver the next generation O2 2MW Floating Tidal Energy Turbine, capable of powering more than 1,700 homes per year. The turbine will eventually be installed at the European Marine Energy Centre in Orkney.
The money is from the £10mn Saltire Tidal Energy Challenge Fund announced in February, which supports the development of tidal energy in Scotland. The fund is open until 6 December 2019.
Scotland’s Energy Minister Paul Wheelhouse said: “We have established a world lead in marine renewable technologies and this project represents a significant step forward in technological development. We are delighted this landmark turbine, designed by an innovative Scottish company, will also be built in Scotland.”
Orbital Marine Power’s Chief Executive Officer Andrew Scott said: “The O2 project will demonstrate how this emerging industrial sector has the ability to deliver new jobs and open up diversification opportunities for the UK’s supply chain in a growing global market whilst pioneering solutions for a zero-carbon future.”