Renewables

The first part of the UK Government’s plan  to realise targets of a 34% reduction in emissions by 2020 and 80% by 2050 kicked off this morning with the publication of the Low Carbon Industrial Strategy.

The strategy identifies wave and tidal power, nuclear power, offshore wind and ultra-low carbon vehicles as the key sectors with the most potential for job creation and growth in the transition to a low carbon economy.

As a first move, the South West of England has been designated a ‘Low Carbon Economic Area’ focusing on marine energy.

The region will receive up to £60 million to develop wave and tidal energy, including an initial £19.5 million investment in Wave Hub – a research and testing facility off the Cornish coast.

Wave Hub is also set to receive £20 million from the European Regional Development Fund (ERDF) and investment could top £100 million over the next two years, says the South West Regional Development Agency (RDA), which is leading the programme.

Ocean Power Technologies is set to be the first company to try out one of the four berths at the testing facility, which is scheduled to be commissioned next summer, with its PowerBuoy wave energy converter. Initially, Wave Hub could deliver up to 20 MW to the national grid – enough to power around 7000 homes – but has the capacity to be scaled up to around 50 MW.

The strategy also sets out the other investments in low carbon industries and advanced green manufacturing from the £405 million allocation outlined in the 2009 Budget:

• The British offshore wind industry will receive up to £120 million;
• Up to £15 million will go to set up a Nuclear Advanced Manufacturing Research Centre bringing together UK supply chain manufacturers and universities;
• Up to £10 million will be put towards deploying the charging infrastructure for electric vehicles; and
• The Manufacturing Advisory Service will get £4 million to assist manufacturers compete for new opportunities in the low carbon market.

“There is no high carbon future,” said Business Secretary Lord Mandelson in a statement. “The transition to low carbon is inevitable.”

Low carbon market is already worth £3 trillion globally, according to government figures, and employs nearly 900,000 in the UK.

“With the sector set to grow by over 4% per annum over the next six years we must do all we can to support British businesses and workers in benefitting,” he said.

The rest of the story, covering renewables and transport, will follow later today following a statement by Energy and Climate Change Secretary Ed Miliband to the House of Commons.

For further information:
ww.hmg.gov.uk/lowcarbon/
www.southwestrda.org.uk/
www.bis.gov.uk/
www.oceanpowertechnologies.com/

Related stories:
UK Government to unveil low-carbon action plan (13-Jul)
Gordon Brown’s plan for the future goes green (30-Jun)
South West England receives £10.3 million boost to marine energy (7-Jul)