Scotrenewables has secured fresh multi-million funding from the private sector and the Scottish government ahead of starting construction of its next-generation 2MW floating turbine.
The investment is led by a private investor group including Scottish businessman Matt McGrath and Matthias Haag, the former chief executive of offshore wind developer Gemini, plus ongoing public sector support through the Scottish government’s Energy Investment Fund.
The developer expects to deploy an optimised SR2-2000 machine at the European Marine Energy Centre off Orkney by early 2020.
The device will be fabricated by Belfast shipyard Harland & Wolff with completion slated for next year.
“The recent records achieved by Scotrenewables are a demonstration of a platform technology that works, and with time we see it has enormous potential,” said Matt McGrath.
Scotrenewables chief executive Andrew Scott added: “As we enter a new exciting phase of turbine build and commercialisation, the new appointments add significant industry and commercial experience and I’m looking forward to having their support and input”.
McGrath family investors include Sian George who has chaired the board of Scotrenewables since February 2016 and will continue to do so.