WAVE-TIDE EXPANSION COMING

Ocean energy: development over the next five years
February 7, 2011 (Regulacion Eolica con Vehiculos Electricos)

"Although ocean energy technologies or marine energy are still in the demonstration phase... their [2011-2015] turnover is expected to exceed $1.2 billion, and at least 150 new MW should be installed.

"...[D]ozens of projects and technology proposals are being assessed...[but] ocean (wave energy and tidal power) energy is still not widely harnessed...[P]rojects have not yet passed the demonstration phase...[but] over the next few years this renewable industry could...be launched...[in] areas with the wealthiest [ocean] resources..."

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"According to The Wave World & Tidal Market Report 2011-2015, compiled by financial analyst Douglas-Westwood, investment in this sector is expected to increase tenfold over the next 5 years, rising from $52 million in 2010 to $500 million in 2015..."

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"The report notes that facilities that will become operational this year double those that were put into service in 2010...Currently, the UK is the first market, followed at a distance by Canada and the United States.

"...[A]t present, ocean energy projects imply high costs throughout the supply and production chain...[so] development is closely linked to the trends that will be registered in financial markets over the next two years and to what degree investors will believe in technologies which will mature in the long term...[I]t is therefore essential that the sector should receive strong public support, which will probably depend on the visibility that this technology will gain..."