- Press Releases
December 15 (Renewables Now) - Scottish floating tidal stream turbine developer Orbital Marine Power Ltd is preparing to take part in the UK’s fourth contracts for difference (CfD) allocation round with multiple applications.
The UK government launched the auction on Monday with GBP 20 million (USD 26.5m/EUR 23.4m) of funding a year ringfenced for tidal stream projects.
Orbital, the developer of the 2-MW O2 tidal stream turbine, said today one of its application sites will be the Perpetuus Tidal Energy Centre (PTEC) south of the Isle of Wight. Earlier this year Orbital became the first company to sign up for deploying turbines at the site, unveiling plans to initially install up to 15 MW there by the end of 2025. The project has now completed onshore consents, offshore consents and grid connection agreement.
Orbital will also seek deployments at the Morlais project in Anglesey. The initiative secured consents for development from the Welsh government several delays ago, the company said.
"With clear Government backing for tidal stream energy, we are now seeing significant commercial project opportunities come forward with the ability to secure a CfD in AR4 [allocation round four] and move into construction,” commented Orbital commercial director Oliver Wragg.
ORE Catapult has estimated that the UK government's tidal stream funding could support the deployment of between 30 MW and 60 MW between 2025 and 2027.
(GBP 1 = USD 1.325/EUR 1.172)