Orkney based Scotrenewables Tidal Power (SRTP) has received a further capital investment of £7½ million to allow it to demonstrate the world’s largest tidal turbine.
This is the second major boost within 24 hours for the Scottish tidal energy sector, following the announcement that Atlantis Resources – the world’s leading tidal energy developer – is taking over Scottish Power’s marine energy projects.
Scotrenewables Tidal Power – which is at the forefront of the floating tidal turbine sector – is currently nearing the completion of the build of its SR2000 (2MW) system in the Harland & Wolff shipyard in Belfast.
The first large scale machine the company has built, the SR200 – about the same size as a World War II German U-boat – is due to be launched early next year before being towed to the European Marine Energy Centre in Orkney to commence grid connected testing.
The company’s existing shareholders (ABB, Scottish Government’s Renewable Energy Investment Fund/REIF, Total New Energies, Bonheur ASA & Ganger Rolf ASA) were joined by new shareholders DP Energy, Harland & Wolff and Scotmarine to provide the investment to take the SR2000 programme through the next operational phase.
Scotrenewables Tidal Power recently appointed Andrew Scott as its new chief executive – who had previously spent 12 years with Pelamis Wave Power, which went into liquidation last year.
He said: “This new investment is great news for the SR2000 programme and the team at SRTP who have put such a tremendous amount of work into this exciting technology.
“We’re very much looking forward to getting this unit in the water next year and demonstrating the step-change advantages we are confident that our floating approach to tidal energy can offer the commercial sector.”
Fergus Ewing, Scottish Energy Minister, commented: “We are delighted to be supporting Orcadian firm Scotrenewables. The £2.65 million investment from our Renewable Energy Investment Fund is part of a £5.7 million funding round, which will allow this dynamic company to complete construction of the world’s largest tidal turbine –– and to launch it at the European Marine Energy Centre in Orkney next year”.
“Scotland is a world leader in marine energy technologies and is committed to supporting ambitious projects like these that help us capitalise on our green energy potential.”
Scotrenewables Tidal Power technology has been under continuous engineering development – including rigorous testing of scaled systems in both tank conditions and open ocean environments – since its inception in 2002.
Prior to the current SR2000 (2MW) unit the company delivered and operate a 250kW (SR250) generator in 2011, which was the first to export electricity to the UK electricity grid from floating tidal energy at the European Marine Energy Centre (EMEC) in 2012.