North Sea expertise can be applied to growing wave and tidal power market

Opportunities for oil and gas supply chain companies to apply their expertise in the growing wave and tidal power market will be highlighted in Aberdeen this week, at a workshop organised by private sector economic development body Opportunity North East (ONE) and the Ocean Power Innovation Network (OPIN) supported by Scottish Enterprise.

Scotland is playing a leading role in the commercialisation of wave and tidal stream energy, including through the European Marine Energy Centre in Orkney and the world’s first large-scale tidal stream array, MeyGen, in the Pentland Firth, which generated first power in 2016. The emerging sector is already generating significant commercial opportunities. More than £450m has been spent across the UK wave and tidal supply chain to date and the global industry is forecast to be worth up to £76bn by 2050.

The ONE and OPIN oil and gas supply chain diversification workshop in Aberdeen on Wednesday 14 June will provide exclusive access to key speakers and companies from the wave and tidal industry and focus on research and technology, commercial issues, project opportunities, and the available support for wave and tidal collaboration.

The event, which runs from 9am to 4.30pm at Norwood Hall Hotel, is free to attend for companies that have experience and know-how of the offshore sector and have a desire to work with developers from the wave and tidal industry.

OPIN is a joint initiative of the state agencies and key interests in Ireland, Northern Ireland and Scotland involved in ocean energy. It is a network devoted to collaboration, learning, innovation and personal interaction in ocean energy technology development.

ONE is the private sector led and funded economic development body for North East Scotland, which is working towards an economic renaissance with a broad and resilient economy that supports high quality employment for the long term.

The event is supported by organisations including Scottish Enterprise, Highlands & Islands Enterprise, Wave Energy Scotland, Sustainable Energy Authority of Ireland, InvestNI, the Offshore Renewable Energy Catapult, Subsea UK and the National Subsea Research Initiative.

Trevor Garlick, Chair of ONE’s Oil & Gas Sector Board, said: “Anchoring the oil and gas supply chain in this region for the long term is a strategic priority for ONE and diversification into adjacent sectors will help to achieve this. The supply chain has developed over 40 years in the North Sea and has the knowledge, experience and products that can support the development of the wave and tidal power sector. There is an exciting opportunity here, especially for our SMEs, to engage with this emerging sector and to win new work through developing relationships at an early stage.”

Margaret McGinlay, Sector Director, Energy, at Scottish Enterprise said: “Anchoring the supply chain is a shared goal with ONE and this event is an excellent way to help us achieve this. We believe that involving the expertise of the oil and gas industry in the new industry of wave and tidal power will greatly benefit both industries and companies.”