Marine Energy Wales (MEW) has responded to the consultation on the Contracts for Difference Scheme. The consultation response has highlighted the importance of the marine energy sector to drive decarbonisation in Wales, the Welsh aspiration as we continue to strengthen our network of test and demonstration sites and the strategic developments and opportunities that tidal stream, wave and floating offshore wind (FLOW) energy are bringing to peripheral and coastal economies in Wales.
Whilst these opportunities are currently very apparent and are the result of significant effort and investment into the sector, the overarching need for a route to market remains and revenue support is the key to unlocking these opportunities for Wales.
The MEW response incorporated views from across the industry including marine technology and project developers, the supply chain, ports and academia.
MEW have liaised with the Marine Energy Council (MEC) to present a coordinated and consistent response to the consultation, especially in the context of presenting the views of the marine renewable energy sector.
Harnessing the power of the sea will provide a clean, low carbon and sustainable source to meet the UK’s energy demands and balance grid transmission requirements. With sufficient revenue support driving cost reduction in the 2020s, marine energy technologies can play a pivotal role in the development of a successful and diverse UK energy mix which aims towards net zero, provide market certainty for investment in project development and establish supply chain capacity and diversification in Wales to deliver these marine energy projects.