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14 September, 2021
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Marine energy will bring hundreds of billions of euros to the EU

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Harnessing the energy of waves and tides will generate significant revenues for EU companies. This is evidenced by the results of a study conducted by the University of Edinburgh.

The report presents results, analysis and recommendations to quantify the potential economic benefits for the European economy from the development of marine energy technologies and their use on a global scale in the period up to 2050.

Revenues have been calculated for three marine energy scenarios based on the achievement of the targets of the EU Strategic Energy Technologies Ocean Energy Implementation Plan (SET plan) of € 100 per MWh for tidal power plants and € 150 per MWh for wave power plants. period until 2030.

The total revenues from this energy sector for the EU economy can range from 59 billion to 140 billion euros, depending on the scenario. “The analysis shows that the strength of the domestic supply chain has a significant impact on the proportion of these economic benefits to the European economy,” the report says.

Scotland sets an example for all EU energy companies

The report is the result of a collaboration between the University of Edinburgh and the Joint Research Center of the European Commission and the International Energy Agency (IEA).

Unsurprisingly, it was the University of Edinburgh that became interested in this topic. Scotland has long paid attention to such technologies. Three years ago, the Scottish underwater technology firm EC-OG announced the installation of a special unit on the seabed off the coast of North Scotland. The company submerged the Subsea Power Hub (SPH) as part of a test program.

This unit is an innovative turbine system for generating electricity from tidal currents. The module consists of a turbine, a generator and a battery pack, mounted on a special platform.

The Subsea Power Hub is housed at the Shapinsay underwater test site set up by the European Marine Energy Center near the Orkney Islands. Robert Cowman, CTO of EC-OG, told Clean Technica that they managed to do this despite unfavorable weather conditions.

It should be noted that the sea off the coast of North Scotland is very actively used to create tidal power systems. Previously, the first giant turbine of the world's largest tidal power plant, MeyGen, was installed and launched there. The height of the turbine is 15 meters, its weight is almost 200 tons, and the diameter of the blades is 16 meters. Four of these units will form the first stage of the power plant. The power of each of the generators, which are installed under water, is 1.5 MW.

In total, the Edinburgh-based company Atlantis Resources, which is implementing the project, intends to launch 269 turbines with a total capacity of up to 389 MW. The tidal power plant will generate enough energy to meet the needs of 175,000 households.