£2m boost for tidal turbine manufacturing project
Simon Forrest: industrial footing
Tidal energy firm Nova Innovation has been awarded a £2 million cash injection from the Scottish Government to take turbine manufacturing to a global level.
The funding, delivered through Scottish Enterprise, is directed at Nova’s VOLT (VOlume Manufacturing and Logistics for Tidal Energy) project.
It will develop the first European assembly line to mass manufacture tidal turbines, and trial innovative techniques and tools to ship, deploy and monitor turbines around the world – meeting the challenge of the climate emergency.
Simon Forrest, CEO of Edinburgh-based Nova Innovation, said: “We would like to thank the Scottish Government for their swift, high-impact support in helping secure overseas contracts.
“This support is significant and very welcome as it sees Nova and the wider sector shift onto an industrial footing.”
The company’s turbines have been powering the Shetland grid for more than five years and will soon be deployed in North America and mainland Europe.
In delivering VOLT, Nova aims to demonstrate what is required to efficiently scale up the production of tidal energy devices across the world.
Tidal energy costs are falling rapidly as the sector scales up. It offers a competitive alternative to diesel generation in many markets and will be cheaper than nuclear by 2030. The global market size of tidal energy by 2050 could be up to £126 billion.
Net Zero Secretary Michael Matheson visited Nova’s headquarters in Edinburgh this week following the announcement.
He said: “The VOLT project marks an important milestone in commercialising the sector, and I look forward to Nova Innovation capitalising on this funding to drive forward what is an incredibly exciting opportunity to advance tidal energy’s potential.”
The VOLT project will run from 2021 to 2023.