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Aquamarine Power CEO welcomes wave and tidal strike price

Martin McAdam CEO Aquamarine Power

Martin McAdam CEO Aquamarine Power

Commenting on the announcement today by Danny Alexander MP of a proposed strike price of £305 MWh for wave and tidal energy to be implemented as part of electricity market reform, Aquamarine Power Chief Executive Officer Martin McAdam said:

“This proposed strike price gives a vital signal to inward investors that the UK Government will continue its support of Britain’s world-leading wave and tidal technologies.

“The private sector has shown it will invest in wave energy, provided there is a long-term market and stable support from government. This is a very good step on the way.

“Lack of grid connections to the Scottish islands means there will be minimal wave energy deployment by 2017 and the additional commitment by the UK Government to consult on a solution to this long-standing problem is very heartening.”

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