A project of national and international relevance
PTEC is a state-of-the-art tidal stream energy generation project, attracting international companies and making the Isle of Wight and Solent area a strategic hub for marine energy.
The government has stated it wants to meet 15 per cent of the UK’s energy demand with renewable sources by 2020. It is hoped that up to 100MW of tidal stream energy could be deployed in UK waters by 2020 and PTEC will play a significant role in helping to achieve that goal.
New tidal power projects around the Isle of Wight could be created as a result of PTEC. A 50MW project could generate an additional 300 jobs* while the water around the Isle of Wight actually has the capacity to generate around 200MW+ of tidal stream energy, so the indirect jobs potential from PTEC is substantial.
*RenewableUK’s marine renewables jobs metrics 2011
A locally important project
The development of PTEC is expected to bring significant benefits to the Isle of Wight and Solent region, especially during construction, operation and maintenance.
It will create jobs and training opportunities, encourage inward investment and provide diversification opportunities for local businesses.
Where possible, PTEC will source materials and services locally, utilising the extensive marine and engineering related supply chain on the Isle of Wight and around the Solent. Evidence from other tidal energy projects suggests that PTEC will create hundreds of jobs and attract significant investment into the local economy. Opportunities for local businesses have already been generated during the development and consenting phase, and will continue to be generated during both the construction and operational stages of the project.
The island will also benefit from electricity grid upgrades, which will free up capacity and unlock further investment in renewables.