Nova Innovation-Led Consortium Secures €20 Million for 16-Turbine Tidal Project in Orkney
Posted 29/11/2023 15:47
Nova Innovation, in collaboration with a pan-European consortium, has been awarded €20 million in funding from the European Union for a 4MW tidal energy farm located in Orkney. This project is set to host the largest number of tidal turbines globally and aims to stimulate the mass production of turbines within the tidal energy industry. Nova Innovation, headquartered in Edinburgh, will lead the consortium.
The SEASTAR project, unveiled at COP28, represents a significant advancement in tidal energy endeavors and builds upon the success of Nova's Shetland Tidal Array, the world's first offshore tidal array, which has been supplying reliable tidal energy to homes, businesses, and the Shetland grid since 2016. Over this period, Nova has improved its technology and reduced the cost of tidal energy by approximately 40%.
Funded by the EU's Horizon Europe programme, the SEASTAR project is expected to facilitate the installation of more turbines than all other current global deployments combined. This achievement is poised to enable Nova to initiate mass manufacturing, deploy at scale, and continue driving down the cost of tidal energy.
Simon Forrest, Chief Executive of Nova Innovation, emphasized the significance of being awarded the EU's flagship tidal energy project, with turbines manufactured and deployed in Scotland, utilizing a pan-European supply chain. The project partners include the European Marine Energy Centre (EMEC), Ocean Energy Europe, Leask Marine, Wood Group, SKF, DLA Piper, Renewable Risk Advisers, Primo Marine, Wave Venture, and Nature Positive.
First Minister Humza Yousaf highlighted the project's contribution to accelerating the development of a new industry, showcasing Scottish ingenuity in harnessing the immense potential of renewable energy from seas and oceans.
The SEASTAR project underscores Nova Innovation's commitment to advancing tidal energy technology and expanding its deployment on a global scale.