SAT 24TH MAY 2025 7:53:52 AM BST
This site uses cookies, by continuing to use this site you accept the terms of our privacy policy
Home
Construction
Leisure
Manufacturing
Misc.
Primary
Professional
Public
Retail
Tourism
Transport
Site Map
Feed 2.0 Loading...
HIE welcomes report of £8bn wave and tidal energy potential
11th February 2025
Highlands and Islands Enterprise (HIE) has welcomed a new report into the economic potential of wave and tidal energy for Scotland.
The study was carried out by the Policy and Innovation Group, part of the Institute for Energy Systems at the University of Edinburgh (UoE).
Published on Monday 10 February 2025 the report entitled The Future Economic Potential of Tidal Stream and Wave Energy in Scotland was commissioned by HIE subsidiary Wave Energy Scotland (WES), and Scottish Enterprise.
It concluded that wave and tidal energy could deliver up to £8bn to Scotland's economy by 2050, and support more than 15,000 jobs, including high-value employment in coastal communities in the Highlands and Islands.
Welcoming the new report, HIE chief executive Stuart Black said, "We've known for some time that the economic potential of marine energy for our economy is huge, and it's great to have this quantified in a meaningful way by this University of Edinburgh report.
"Scotland, and particularly the Highlands and Islands region, has been at the forefront of renewable energy development over the past 20 years or more.
"We will continue to work hard and with our partners in the public sector and industry to make sure we stay ahead of the game and secure these economic gains for our region and our country."
The report combines the findings of separate reports on tidal stream and wave energy wave energy commissioned by SE and WES respectively. It presents a scenario where there is an estimated Scottish market for up to 8.8GW of marine energy by 2050, with potential deployments of up to 12.6GW throughout the UK and up to 300GW globally.
This could deliver up to 62,000 jobs in Scottish companies in 2050, comprised of 15,600 jobs in the UK, plus a further 46,000 jobs from worldwide exports.
The global export market for marine energy over the same timeframe could be worth as much as £28bn to Scotland's economy.
The full report is available at Future Economic Potential of Tidal Stream and Wave Energy in Scotland
Related Businesses
Related Articles
16/5/2025
New green training skills facilities open in Stornoway - Fosgladh Goireasan Trèanaidh Sgilean Uaine ann an Steòrnabhagh
The new, state-of-the-art Technology and Innovation Centre at UHI North, West and Hebrides' Stornoway campus officially opened following a £2.3m investment. It is the first capital project to be delivered under the Islands Growth Deal, a ten-year package that seeks to drive economic growth and the creation of sustainable jobs across Shetland, Orkney and the Outer Hebrides.
16/5/2025
Operator sought for new innovation centre
Highlands and Islands Enterprise (HIE) is looking to contract a specialist operating company to run a new multi-million-pound innovation centre under development in Moray to support manufacturing. The three-year contract will involve developing and managing the service offering of the new Manufacturing Innovation Centre Moray (MICM), as well as stakeholder engagement, marketing and promotion of the facility.
16/5/2025
Innovative project at Moray carrot firm will lead to growth
An innovation project by a major carrot grower in Moray is forecast to strengthen the company's position and create more jobs. Family-run firm, AA Carrots Ltd grows carrots on 400 acres of land around Moray and Aberdeenshire, of which around half is organic.
16/5/2025
Highlands and Islands supply chain spotlight at All-Energy 2025
More than 30 of the region's businesses are took centre stage at the UK's biggest renewable energy exhibition and conference at Glasgow’s SEC 14-15 May. Global experts, academics and innovators gathered at the annual All-Energy exhibition and conference to advance Scotland’s goal of net zero and achieving a sustainable future.13/5/2025
£100bn potential of ‘transformational' projects in the Highlands and Islands
The scale of transformational opportunity facing the Highlands and Islands economy has been quantified for the first time in a new report. The study reports 251 planned development projects in the economic pipeline of what it refers to as regional transformational opportunities (RTOs).
7/5/2025
Region's clean energy credentials attracts UK Government visit
The renewable energy credentials of the Highlands and Islands has attracted a visit this week from a top UK Government official leading the drive to secure clean energy by 2030. Chris Stark leads the UK Government's Mission for Clean Power by 2030, in the Department of Energy Security and Net Zero (DESNZ).6/5/2025
Planning application for Inverness Campus Marks Final Phase
Highlands and Islands Enterprise (HIE) has submitted an application for planning permission in principle to make way for the second and final phase of development at Inverness Campus. Most of the development in the proposals is for commercial floorspace, with other elements including hotel and academic space.
2/5/2025
Highland food and drink sector urged to apply for support programme
Highland food and drink supply chain or manufacturing businesses are being encouraged to take advantage of fully funded one-to-one technology advice and funding support. The support is part of the second phase of Food and Drink TechHUB, which itself is part of the Northern Innovation Hub (NIH), a multi-million-pound initiative led by Highlands and Islands Enterprise (HIE) under the Inverness and Highland City-Region Deal.
29/4/2025
Highlands and Islands Regional Economic Partnership unveils ten-year strategy for regional growth
The Highlands and Islands Regional Economic Partnership (HIREP)'s Regional Economic Strategy addresses the challenges affecting the region's businesses and communities. A partnership of public, private and academic organisations in the Highlands and Islands has unveiled its ten-year strategy to deliver sustainable economic growth across the region.14/4/2025
Argyll seafood firm expands - A history of rising energy costs made things difficult
Loch Fyne company Otter Ferry Seafish Limited to increase production, safeguard the workforce and create new jobs. A £350,000 expansion project at a seafood company in Argyll will increase production, safeguard the workforce and create new jobs.Our Social Media
