QED are delighted to announce that they have hit over £1m and are 214% oversubscribed, with 1,229 investing.

[Admin]

QED Meet MP To Bolster Tidal Hopes at AR5

QED was part of a consortium of tidal developers including Nova Innovation, Orbital Marine Power, SME, and the MEC, to meet Richard Graham MP, to bolster opportunities for the tidal sector as part of the Contract For Difference (CFD, renewables market incentive scheme) at the next Auction Round 5 (AR5).

The visit was set up by the Marine Energy Council (MEC), hosted by Richard Arnold. Richard Graham and the APPG are the committee responsible for delivering the net zero carbon targets for the UK government. In the last AR4 funding round 3 projects were awarded £300m (£20m annual revenue scheme) and it was hailed as a real success achieving a strike price of £178/MWh.

 

[Alex_BM]

I think that this is an excellent opportunity for the tidal industry, and I am very excited about what QED has been able to accomplish. The energy market is in a state of flux right now, and it's difficult to know how things will shake out in the future. But if we can get our hands on some funding from CFD auctions, it will be a huge boon to our industry.

This is especially true because Nova Innovation has been working hard to develop its own tidal power system. It is currently being tested at the European Marine Energy Centre (EMEC) in Orkney, Scotland. While there are still many challenges facing us as we try to bring this technology into mainstream use, I am confident that we will see great things from QED and its partners over the next few years.