A marine renewables boss warned yesterday the sector is at “real risk” without UK government support.
Orkney firm Scotrenewables announced an industry benchmark last week after its SR2000 tidal turbine generated more power in 12 months than the Scottish marine energy sector managed in the 12 years prior to its launch.
But the firm’s chief executive, Andrew Scott, fears the removal of government subsidies last year could stifle growth.
In June, Sanjeev Gupta’s GFG Alliance took a multi-million stake in the company behind the Atlantis MeyGen tidal array in the Pentland Firth.
Other potential investors are thin on the ground, Mr Scott suggested, adding: “It really should be ringing alarm bells within government that they may have made a decision too quickly here; they have to come back and take a good look at this.
“For the first time in over a decade, the wave and tidal industry has no market mechanism that is effective for it in the UK.
“It doesn’t take a genius to see there has been a radical contraction of investment here. We have no option but to look for market opportunities elsewhere.
“In doing so we’re putting the sector at real risk. We’re about to snatch defeat from the jaws of victory.”
A Department for Business, Energy and Industrial Strategy spokesman said: “We absolutely recognise the potential role of marine technologies in the long-term decarbonisation of the UK, but they will need to demonstrate how they can compete with other forms of generation.”