CorPower Ocean has been selected to lead the €30m POWER-Farm EU Project to validate wave energy technology for large-scale deployment in UK waters.
The initiative, partly backed by a €19m Horizon Europe grant, aims to address competitiveness and bankability while underscoring wave energy’s role as a mainstream renewable sector, the consortium said.
Partners include EMEC, the University of Edinburgh, Ocean Energy Europe, Renewable Risk Advisers and Kristinehamn Teknik & Service, and they will demonstrate survivability, reliability and performance at EMEC’s test site in Scotland.
The consortium added that the project strengthens the UK’s position as a key market in CorPower’s rollout plan and supports local supply chains, high-value jobs and wider socio-economic benefits.
Research from Supergen ORE Hub and the Policy and Innovation Group at the University of Edinburgh indicates wave energy could deliver over £30billion in gross value added to the UK economy under a high-ambition scenario.
The project builds on CorPower Ocean’s wave energy converter technology deployed off Portugal and places emphasis on proving the scalability of a European supply chain.
Anders Jansson, head of business development at CorPower Ocean, said: “The POWER-Farm EU initiative arrives at a pivotal moment for the wave-energy sector, as the industry shifts from research and development to commercial deployments.”
He added that the UK is uniquely positioned to become a global leader with the right support and a clear route to market.
Guillaume Unique, project manager at CorPower Ocean and for POWER-Farm EU, said: “We are thrilled to deepen our collaboration with the partners in this ground-breaking project.”
Remi Gruet, chief executive of Ocean Energy Europe, said: “The POWER-Farm EU project is a key milestone for Europe’s wave energy sector.”