CorPower Ocean to lead European wave energy drive

Stockholm-based CorPower Ocean is to lead the EUR 30 miilion Power-Farm EU Project to develop wave energy as a mainstream renewable sector in European waters. Part funded by a EUR 19 million grant from research and innovation setup, Horizon Europe, the project will assess the feasibility of volume manufacturing of wave power systems which have the potential to supply up to 17% of EU electricity requirements by mid-century.  

The pan-European project, which will also assess the conditions required for large-scale deployment in waters including those of the UK, will be undertaken by the European Marine Energy Centre, the University of Edinburgh, Ocean Energy Europe, Renewable Risk Advisers, and Kristinehamn Teknik & Service. 

The UK, with Scotland as a key focus, is thought to have 25GW of wave energy potential. Power-Farm is likely to strengthen the country’s position as a market in CorPower Ocean’s roll-out strategy.

CorPower Ocean’s head of Business Development, Anders Jansson, commented: “The Power-Farm EU initiative arrives at a pivotal moment for the wave energy sector … With Europe investing to bring wave energy to farm-scale readiness, we urge the UK to match this ambition and unlock its vast wave-energy potential.”