Nova will lead a pan-European consortium that will kick-start mass manufacturing of tidal turbines in the tidal industry at Nova's Edinburgh's headquarters. The trailblazing project, unveiled at COP28, marks a crucial step in unlocking a new global source of renewable energy in the battle against climate change.
Humza Yousaf, First Minister of Scotland, said: "Scotland is a world leader in marine renewable energy as a result of consistent and committed support from the Scottish Government, together with the expertise, investment and innovation of the industry. Nova's project at the European Marine Energy Centre (EMEC) in Orkney will accelerate the development of a new industry and helps to show how Scottish ingenuity is helping us to capture the immense potential of renewable energy from our seas and oceans."
The SEASTAR project builds on the achievements of Nova's Shetland Tidal Array (the world's first offshore tidal array) which has been powering homes, businesses, and the Shetland grid since 2016. During this time, Nova enhanced its technology and slashed the cost of tidal energy by an impressive 40%. SEASTAR opens the next exciting chapter of Nova's success story – paving the way for a new source of renewable energy across the globe.
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The flagship project is funded by the EU's Horizon Europe programme – dedicated to fostering innovation and technology. SEASTAR reinforces the collaborative partnership between Scotland and Europe. The project not only pioneers a green marine energy revolution, but also catalyses the creation of high-quality green jobs and enhances Europe's position as a global frontrunner in the marine energy supply chain.
Simon Forrest, CEO of Nova Innovation, said: "This is a huge win for Nova and a huge vote of confidence for the tidal energy sector. To be awarded this flagship European tidal energy project with turbines made and deployed here in Scotland, using a pan-European supply chain, is testament to our track record of success. The SEASTAR project will see more turbines installed than all other current deployments worldwide combined. This will enable Nova to start mass manufacturing, deploy at scale and continue to drive down the cost of tidal energy."
The project partners include EMEC, Ocean Energy Europe, Leask Marine, Wood Group, SKF, DLA Piper, Renewable Risk Advisers, Primo Marine, Wave Venture and Nature Positive.
The UK is surrounded by tidal energy that could meet 11% of current electricity demand, whilst the global ocean energy market is forecast to be worth €145 billion by 2050. Tidal energy offers many unique advantages. With solar and wind, there are times when the sun doesn't shine, and the wind doesn't blow, but the tide can be accurately predicted days, months, and even years ahead. This predictability is a game-changer, enhancing energy security and providing a reliable source of renewable energy, in the fight against climate change.
