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Alstom invests in Scottish wave power

Alstom has acquired a 40% equity stake in Scottish wave power company AWS Ocean Energy Ltd.

By Renewable Energy Focus staff

AWS says the investment will give it the financial strength to expand its operations and accelerate the development of its AWS-III wave power technology.

Alex Salmond, Scotland’s First Minister, says: “This is a hugely significant investment announcement that brings together a pioneering Scottish marine energy developer with one of the world’s leading power generation and transmission companies, which is entering the wave energy market for the first time.”

He adds: “We are determined to provide the optimum environment for the development and deployment of clean energy technology, working with private and public sector partners to forge a truly low carbon economy both in Scotland and further afield.”

Simon Grey, AWS Ocean Energy’s CEO, comments: “With Alstom as a major backer, AWS Ocean Energy has a delivery capability which our utility customers will need in order to realise their major wave energy projects in Scotland and elsewhere. Alstom’s investment provides us with the stability we need in order to attract top talent to work for us and so today we are launching a recruitment campaign to expand our engineering team at Inverness.”

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Wave and tidal energy