The Government announced today that the South West will become the UK’s first marine energy park- an area which has had £100 million invested in its marine energy industry.
The South West Marine Energy Park will create a partnership between national and local government, Local Enterprise Partnerships and the Universities of Plymouth and Exeter to help develop sustainable technologies in the UK.
Climate Change Minister Greg Barker said: “Marine power has huge potential in the UK not just in contributing to a greener electricity supply and cutting emissions but in supporting thousands of jobs in a sector worth a possible £15 billion to the economy to 2050.”
Marine power has the potential to generate 27GW of power in the UK by 2050, according to the Government. Under DECC’s Renewables Obligation marine technologies are set to receive twice as much financial support.
Johnny Gowdy, Programme Director at Regen SW, a partner of the scheme said: “The launch of the South West Marine Energy Park puts the South West in a position to attract future investment and to be at the forefront of the new global marine energy industry.”