WED 16TH APR 2025 11:04:19 PM 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
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.25/3/2025
Moray agriculture firm in £400k growth project
A family run agriculture company in Moray has embarked on a major growth project that will increase production and efficiency, improve product quality and create jobs. James Taylor & Son, operating at Kintessack near Forres, has secured up to £161,446 from Highlands and Islands Enterprise (HIE) towards total project costs of £403,616.
22/3/2025
Limited space for businesses on Digital Tourism Support programme
Businesses in the tourism sector and its supply chain in the Highland Council area are being encouraged to secure a place on the Digital Tourism Support Programme. The programme is offering support to eligible businesses and social enterprises of up to three days of free, personalised, one-to-one digital advice from industry experts.17/3/2025
£10 million planned for Port of Nigg project
Public investment is planned for a major redevelopment project at Port of Nigg in the Highlands. Highlands and Islands Enterprise (HIE) has approved up to £10 million to support development of the port's Inner East Quay, which will result in the creation of a new heavy-duty quayside and the introduction of roll-on roll-off capability.
17/3/2025
Next phase of small business units for Wick Business Park
A further phase of development is getting under way at Wick Business Park in a move that will support economic growth and strengthen population retention in Caithness. Park owner Highlands and Islands Enterprise (HIE) has awarded a £1.8m contract to Morgan Sindall Construction and Infrastructure Ltd to build a further four new business units.7/3/2025
Alistair Dodds Chair of HIE to retire in July
The chair of Highlands and Islands Enterprise (HIE) has announced plans to retire from the role in July. Alistair Dodds CBE has served on the HIE board for 11 years.
28/2/2025
Cairngorm Mountain Railway returns to service
The funicular railway at Cairngorm Mountain resort returned to service on Thursday 27 February 2025. Scotland's only funicular railway has been out of action since August 2023, while an extensive programme of remediation works has been carried out, led by contractor Balfour Beatty on behalf of estate owner Highlands and Islands Enterprise (HIE).
28/2/2025
HIE approves further £863k for Inverness Castle project
Highlands and Islands Enterprise (HIE) has approved a further £863,000 contribution to the Inverness Castle Experience project. Led by The Highland Council, the Inverness Castle Experience is a key project within the Inverness and Highland City-Region Deal, a joint initiative supported by up to £315m investment from the UK and Scottish governments, The Highland Council, HIE and University of the Highlands and Islands, aimed at stimulating sustainable regional economic growth.24/2/2025
Food and drink businesses offered new help with net zero planning
Highland based food and drink producers have until 28 March to enquire about a new support programme aimed at helping businesses in the sector to cut carbon emissions. Highlands and Islands Enterprise (HIE) is looking for small to medium enterprises (SMEs) to take part in the food and drink TechHUB Net Zero Mobilisation programme.
11/2/2025
£5m approved for Scapa Deep Water Quay
Ambitious plans to create a major new renewables hub in Orkney have been accelerated with a £5m grant to help take the project to the next stage. The funding from Highlands and Islands Enterprise (HIE) will further the development of a new harbour facility for the assembly of offshore wind turbines at Scapa Flow - the largest natural harbour in the northern hemisphere.
Our Social Media
