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Politics : Rat's Nest - Chronicles of Collapse -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (10043)	3/4/2010 4:23:40 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 24211

Wave, Tidal Energy May Power 1.4 Million U.K. Homes (Update2) By Alex Morales March 4 (Bloomberg) -- Wave and tidal energy may provide 2,000 megawatts of power to the U.K. by 2020, enough for about 1.4 million homes, Energy and Climate-Change Minister David Kidney said. “We have faith in these industries proving themselves and being a big contributor to fighting climate change,” the U.K. minister said today in London. The estimate is more than 800 times larger than the current 2.4-megawatt generating capacity of the industries, made up mainly of small companies dependent on venture capital and grants to test their technologies. The U.K. aims to derive about 30 percent of its electricity from renewable power by 2020 compared with 5.5 percent now. Companies including Germany’s Siemens AG and Vattenfall AB of Sweden are moving into the area as it grows, said Peter Madigan, head of offshore power at RenewableUK, an industry group. The government should invest 150 million to 200 million pounds ($226 million to $302 million) to create as many as 2,100 jobs by 2020 and a billion-pound industry by 2030, he said. RenewableUK until today was known as the British Wind Energy Association. “It’s about investing in the industry at this stage to get the benefits in the future,” Madigan said, pointing to Denmark’s early investments in the wind industry as an example of success. As well as the installed capacity for marine power of 2.4 megawatts, a further 27 megawatts of projects have planning consent and 77.5 megawatts is being planned, he said. The largest source of wave or tidal energy in the U.K. is a 1.2-megawatt tidal energy device installed by Marine Current Turbines in Strangford Lough, Northern Ireland, in 2008. Siemens last month bought an almost 10 percent stake in MCT. Pelamis Wave Power Ltd. has successfully tested a 750- kilowatt wave-energy device at the European Marine Energy Centre in Scotland and is working with E.ON AG, Germany’s biggest utility, to operate a new device this year. Pelamis in December started a joint venture with Vattenfall to develop a wave power project of up to 20 megawatts off the Shetland Islands. bloomberg.com