EMEC’s Matthew Finn interviewed about progress in the marine energy sector
17 February 2021 - Published by Stig Marthinsen
Periscope partner, EMEC was approached to comment on the imminent changes in the marine energy sector, thanks to the UK government’s potential reform of the "Contract for Difference" incentive mechanism so that wave and tidal power is calculated separately from offshore wind — low carbon marine energy projects will be subsidized to be price competitive, but this time without factoring in much cheaper offshore wind.
"Once there's a market signal, then that's us out of the starting blocks as a sector," said Matthew Finn, commercial director at the Orkney-based European Marine Energy Centre (EMEC). The hope is to make up ground on "first generation technologies like solar and wind that are pretty bankable now and attract a lot of finance,"