ORE Catapult responds to tidal stream energy results in Contracts for Difference Allocation Round 5
Following the publication today (Friday) of the Contracts for Difference (CfD) Allocation Round 5 results, Simon Cheeseman, ORE Catapult’s Sector Lead on Wave and Tidal Energy, said:
“We welcome the endorsement of the UK’s tidal stream industry today, with 11 successful bids representing more than 53MW awarded Contracts for Difference in the UK Government’s AR5 announcement.
“We look forward to seeing these tidal developments progressing to deployment and becoming part of our future energy mix. In future allocation rounds, we would hope to see an even bigger pot of funding to stimulate the larger projects that industry wants to deliver and drive down tidal energy costs more efficiently.
“As we strive towards reaching 1GW tidal deployment capacity by 2035, the UK’s world leading expertise in tidal stream energy should be capitalised on – for the benefit of our own energy future, as well as fuelling the green energy transition across the world.”