The UK is a leader in capturing tidal and wave energy, but companies are starting to leave due to lack of government support. Britain is throwing away its opportunity to rule the global wave and tidal energy sector due to lack of government support, a series of leading developers have told the Guardian. The nation is currently seen as a world leader in capturing renewable energy from the oceans but some companies are already heading for new shores. This is putting other countries, such as France and Canada, in prime position to capitalise on the jobs being created by the emerging industry, the companies say.

Ocean energy is needed alongside other renewables to provide the huge amount of clean electricity that will be required to phase out fossil fuel use and fight climate change, proponents argue. Tidal energy has the particular advantage of being entirely reliable and the European Union predicts 100GW of ocean energy will be installed by 2050, the equivalent of 100 large conventional power stations.

“I think the UK is making a huge mistake with this,” said Dr Martin Edlund, CEO of Minesto, which has invested £25m to install subsea kites that harvest energy from the currents off Wales. “The UK is a world leader in this emerging industry and it is just giving it away.”

“The withdrawal of existing support systems – which are peanuts when compared to the huge [total] subsidies for the Hinkley Point nuclear power plant – leaves the industry without support,” he said. “I will just turn my back on the UK and go elsewhere.”

Sustainable Marine Energy, a British company that developed and tested its floating tidal turbines in Scotland, is now taking its device to Canada, citing “more support” from the government there. Another tidal turbine company, Atlantis, whose MeyGen project in Orkney is the world’s first large-scale tidal array connected to the grid, is looking to France, where a major government tender is expected in the coming months. Click here to read more