Image courtesy of EMEC

CorPower Ocean has been selected to lead the €30m POWER-Farm EU project, a pan-European initiative aimed at improving the competitiveness and bankability of wave energy farms. The project will validate wave energy technology under conditions required for large-scale deployment in UK waters.

The project is supported by €19m in funding from Horizon Europe. Its objective is to demonstrate that wave energy can progress from demonstration projects to commercial-scale deployment and become part of the mainstream renewable energy sector.

The POWER-Farm EU consortium includes European Marine Energy Centre (EMEC), University of Edinburgh, Ocean Energy Europe, Renewable Risk Advisers, and Kristinehamn Teknik & Service.

The partners will test wave energy systems at EMEC’s site in Scotland to demonstrate survivability, reliability, and performance at farm scale. The UK is estimated to have up to 25GW of practical wave energy deployment potential, with Scotland hosting some of the world’s strongest wave resources. The project supports CorPower Ocean’s plans for global deployment while strengthening the UK’s role as a key early market.

According to research from the Supergen ORE Hub and the Policy and Innovation Group at the University of Edinburgh, wave energy could generate more than £30bn in gross value added for the UK economy under a high-ambition scenario. Combined with tidal stream energy, which could contribute more than £20 billion, the sector could support over 80,000 jobs if a strong domestic supply chain is developed.

The project builds on CorPower Ocean’s wave energy converter technology currently deployed off the coast of Portugal. It also focuses on proving that a European, and particularly UK and Scottish, supply chain can support larger commercial wave energy farms through volume manufacturing.

Anders Jansson, Head of Business Development at CorPower Ocean, said:
“The POWER-Farm EU initiative arrives at a pivotal moment for the wave-energy sector, as the industry shifts from research and development to commercial deployments,” said Anders Jansson, Head of Business Development at CorPower Ocean. “With Europe investing to bring wave energy to farm-scale readiness, we urge the UK to match this ambition and unlock its vast wave-energy potential. The UK is uniquely positioned to become a global leader in this emerging frontier, establishing a major new sector driving economic growth and job creation. With the right support and a clear route to market, developers and investors will have the certainty they need to deliver the nation’s first commercial wave-energy arrays, while ensuring the UK can capitalize on this golden opportunity.”

Wave energy is increasingly viewed as a strategic technology for providing clean, firm power that complements wind and solar generation. Across Europe, policy momentum continues to build. The UK has recently launched a Marine Energy Taskforce led by Energy Minister Michael Shanks, with support from The Crown Estate and Crown Estate Scotland. The taskforce is developing a roadmap covering site development, financing, innovation, and supply chain growth.

Guillaume Unique, Project Manager at CorPower Ocean and for POWER-Farm EU, said: “We are thrilled to deepen our collaboration with the partners in this ground-breaking project. Together, we bring a unique blend of cutting-edge research, advanced manufacturing capabilities, world-class testing infrastructure, and proven bankability expertise creating a powerful foundation for success.”

Rémi Gruet, CEO of Ocean Energy Europe, added: “The POWER-Farm EU project is a key milestone for Europe’s wave energy sector. Demonstrating scalable and reliable wave energy technology will help unlock investment, industrialisation, and the wider deployment of ocean energy. Initiatives built on strong partnerships and EU support are critical for achieving Europe’s climate and energy targets while reinforcing Europe’s leadership in the sector.”

Wave energy’s more consistent production profile can help stabilise power systems with high shares of wind and solar. Studies indicate that systems including wave energy may require significantly less installed capacity, grid infrastructure, and storage than systems based only on variable renewables.

Global accessible wave energy potential is estimated at more than 500 GW. For the UK and Scotland, the POWER-Farm EU project is intended to position wave energy as a commercial technology while supporting long-term economic development and energy security.