Archives for February 2013

UK’s Crown Estate to Invest in Ocean Energy Projects

One of the most surprising developments over the Christmas period was the announcement by the UK’s Crown Estate that it was to invest up to GPB 20 million in 2 tidal energy array projects. The Crown Estate’s objectives are to:

  • Establish the first (wave or tidal) array projects, which are ready for investment to be constructed and start operation as soon as possible
  • Facilitate the growth of the emerging wave and tidal energy industry to continue as rapidly as possible, building on industry’s experience of construction and operation of these projects.

The Crown Estate wants to make an acceptable commercial return for each investment and catalyze investments in the first array projects by virtue of sharing risk exposure and reducing capital others are required to invest. Continue Reading