Finance
Socio-economic
Progress report
Marine Energy Wales 2022 State of the Sector
The 2022 State of the Sector report from Marine Energy Wales shows that wave and tidal stream continue to grow in Wales.
Despite a slight slowdown in growth rate compared to previous years, supply chain investment saw a rapid increase – a probable response to the project pipeline supported by the Contract for Difference scheme in the UK. This demonstrates increased confidence in the sector, with companies seeing a clear business case to invest.
Socioeconomic benefits can already be seen in the region, and a large supply chain cluster has been established around the Port of Milford Haven. Construction represents the most employment within the sector, highlighting the jobs benefit of establishing Wales as a manufacturing hub for wave and tidal energy as more projects in regional, national and international waters are deployed.
Key findings
Research across Wales’s universities and academic institutions accounts for a combined spend of £4.6 million.
Supply chain net spend was £3.7 million.
Tidal stream saw a combined total spend of £3.8 million.
Wave & Floating Platform Technologies saw a total spend of £1 million.
Reports All Reports
Industrial Roadmap for Ocean Energy 01 Jul 2022
ETIP Ocean engagement with the SET Plan actions 01 Jan 2022
2030 Ocean Energy Vision 13 Oct 2020
New ETIP Ocean report: EU and national policies play a key role in ocean energy development 19 Dec 2019
Powering Homes Today, Powering Nations Tomorrow 10 Apr 2019
Report from the first workshop 30 Nov 2018
EU-funded ocean energy projects: complete description and links to H2020 and FP7 projects 28 Mar 2017
