Trade body RenewableUK claim that 10,000 future jobs in the marine sector are at risk because the Government is not investing early enough. The association claims the industry could be worth £3.7 billion by 2020, creating thousands of jobs along the way.
RenewableUK claims the UK and Scottish Governments are not providing the sector enough support. They want £120 million worth of investment from the Government for the industry’s commercial development. But DECC told ELN: “This is the amount that RenewableUK is calling for, not something we have agreed to.”
The Government has so far invested £38 million in wave and tidal projects but RenewableUK claims the Government’s Green Investment Bank (GIB) could provide more support.
David Krohn, RenewableUK’s Wave and Tidal Development Manager said: “One step the Government could take is to allow the Green Investment Bank to support wave and tidal projects at an early stage. It’s frustrating that Ministers have not yet identified marine energy as a priority sector for the GIB.”
The Government defended its position and a DECC spokesperson said: “We are proposing more than double the level of subsidy for wave and tidal technologies under the Renewables Obligation from April next year.”