Nova Innovation has secured a substantial £20 million in funding from the European Union to establish a 16-turbine tidal energy farm in Orkney. The Edinburgh-based developer will lead a pan-European consortium, aiming to initiate large-scale manufacturing of tidal turbines at its headquarters.
The ambitious 4MW Seastar project represents a significant stride in the tidal industry and follows the success of Nova's Shetland Tidal Array, the world's inaugural offshore tidal array operational since 2016.
Nova's advancements in technology have contributed to a remarkable 40% reduction in the cost of tidal energy during the operation of the Shetland Tidal Array. Simon Forrest, CEO of Nova Innovation, expressed the magnitude of this achievement, characterizing it as a substantial victory and a resounding endorsement of the tidal energy sector.
The Seastar project, with more turbines than all other global deployments combined, will serve as a catalyst for Nova to embark on mass manufacturing, deploy on a larger scale, and further drive down the costs associated with tidal energy.
Key project partners include EMEC, Ocean Energy Europe, Leask Marine, Wood Group, SKF, DLA Piper, Renewable Risk Advisers, Primo Marine, Wave Venture, and Nature Positive.
