CorPower Ocean has been selected to lead the €30 million POWER-Farm EU project, which aims to demonstrate wave energy technology for large-scale deployment in UK waters, the company said on Tuesday.
The initiative, partly supported by a €19 million Horizon Europe grant, seeks to improve competitiveness and bankability while highlighting wave energy’s potential as a mainstream renewable sector. Partners include EMEC, the University of Edinburgh, Ocean Energy Europe, Renewable Risk Advisers, and Kristinehamn Teknik & Service. The project will test survivability, reliability, and performance at EMEC’s test site in Scotland.
The consortium said the project reinforces the UK’s role as a key market for CorPower’s rollout and supports local supply chains, high-value jobs, and broader socio-economic benefits. Research from Supergen ORE Hub and the University of Edinburgh’s Policy and Innovation Group suggests wave energy could contribute over £30 billion in gross value added to the UK economy under a high-ambition scenario.
Anders Jansson, head of business development at CorPower Ocean, said: “The POWER-Farm EU initiative arrives at a pivotal moment for the wave-energy sector, as the industry shifts from research and development to commercial deployments.” He added that the UK is well-positioned to become a global leader with the right support and a clear route to market.
Guillaume Unique, project manager for POWER-Farm EU, said: “We are thrilled to deepen our collaboration with the partners in this ground-breaking project.” Remi Gruet, chief executive of Ocean Energy Europe, described the initiative as “a key milestone for Europe’s wave energy sector.”
