Marine energy firms have hailed the Government’s “heartening” new plans for the green energy subsidy, the Renewables Obligation.
Tidal stream and wave power are set to be big winners under new proposals for the Renewables Obligation with the support for them due to rocket from 2 to 5 ROCs per MWh.
Martin McAdam, Chief Executive Officer at Aquamarine Power said: “Marine energy offers a great future for the UK – not just in terms of meeting our green energy targets, but in building an indigenous industrial sector here in Britain that can create jobs and generate exports for our economy.
“It is therefore particularly heartening that this potential has been recognised by DECC. The UK Government has given a very positive signal which will incentivise inward investment in what has the potential to be a world-leading, high growth British success story.”