Contract helps city company rule the waves
The contract is to install a foundation system for Aquamarine Power's next-generation wave device Oyster 2, which will be installed by Fugro Seacore in Orkney this summer.
City firm Aquamarine Power will install a single Oyster 2 device this summer, with a further two devices to be put in place in 2012. Together the three devices will form a 2.4MW array.
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Hide AdMr Huhne said: "Our island has a tremendous marine energy resource and we already have a lead in the technology. Now the challenge is to see it deployed commercially.
"As we face oil prices beyond $100 a barrel and the clearest evidence yet of the physical dangers to the UK of man-made climate change, innovations such as the Oyster are the sure-fire insurance policy with a big economic dividend."
The development comes after the announcement in December of 11 million new investment in Aquamarine Power.