Aquamarine in £3m Oyster deal

Aquamarine Power has handed a £3 million contract to marine drilling firm Fugro Seacore to install the foundations for the next generation of "Oyster" wave energy devices in Orkney.

The news follows the announcement in December of an 11m investment in Edinburgh-based Aquamarine by multi-national power company ABB and other investors.

Yesterday's deal was welcomed by Chris Huhne, the Secretary of State for Energy and Climate Change, who 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."