CIG: Scotland’s giant 1.2GW marine energy hub plans revealed.

Scotland hopes of becoming a marine energy hub get closer to fruition with the awarding of new leasing rights.
By: CIG LLC
 
March 17, 2010 - PRLog -- CIG has learned that Scotland’s dreams of becoming a major hub of marine energy received a boost recently when ten projects with an expected combined output of 1.2GW capacity by 2020, almost double the originally anticipated 700MW, got the go ahead.

The Crown Estate which manages the UK’s sea beds announced the successful bidders to receive the exclusive rights for the world’s first commercial wave and tidal leasing round, for ten sites in Scotland’s Pentland Firth and Orkney waters, to five tidal and wave energy projects.

CIG has learned from the Crown Estate website that Germany’s E.ON, Edinburgh based Pelamis Wave Power and Scottish Power each plan to install 50MW wave farms, Aquamarine Power and SSE Renewables are each clear to go ahead with a 200MW wave farm,  while Marine Current Turbines will install a 100MW tidal energy farm.
It is believed that the 10 projects together will generate enough power for up to three quarters of a million houses.

CIG believes Scottish First Minister Alex Salmond said, “Leading international energy companies and innovators continue to be drawn to Scottish waters, which boast as much as a quarter of Europe’s tidal and offshore wind resource and a tenth of the continent’s potential wave capacity. Together with some 11 GW of planned offshore wind developments, these latest marine renewables projects show that Scotland is powering ahead in the development and deployment of clean, green energy.

The successful applicants were chosen from over 40 bids from 20 marine energy companies and utilities who lodged plans as part of the Crown Estates long running Pentland Firth and Orkney Waters leasing round.

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CIG is an exclusive, members only, offshore, private equity, investment firm that provides consulting services to like minded members of the private equity and alternative investment community.
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