The initiative, partly funded by a €19M grant from Horizon Europe, will highlight wave energy's role as a mainstream renewable sector. With potential to supply up to 17% of electricity in key EU countries by 2050, the project also targets volume manufacturing across the EU, reinforcing Europe's leadership in clean energy innovation.
The consortium includes EMEC (European Marine Energy Centre), The University of Edinburgh, Ocean Energy Europe, Renewable Risk Advisers and Kristinehamn Teknik & Service.
Together they will demonstrate the survivability, reliability and performance of wave energy systems at EMEC’s test site in Scotland. With the UK’s 25GW practical wave deployment potential and Scotland’s globally recognized resource, POWER-Farm strengthens the UK’s position as a key market in CorPower Ocean’s global rollout plan. It also supports the development of local supply chains, high-value jobs, and wider socio-economic benefits as the UK transitions toward a net-zero and more self-reliant energy system.
According to research from Supergen ORE Hub and the Policy and Innovation Group at the University of Edinburgh, wave energy could deliver over £30billion in Gross Value Added to the UK economy – under a ‘high ambition’ scenario, where the UK develops a strong, modernized domestic supply chain and leads in global deployments. Taken with tidal stream, which could contribute more than £20billion, it could support over 80,000 jobs.
The project builds on CorPower Ocean’s innovative WEC (Wave Energy Converter) technology currently deployed off the Atlantic coast of Portugal, while also placing strong emphasis on proving the scalability of a European—and particularly UK and Scottish—supply chain capable of supporting larger wave energy farms.
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. 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 emerging as a strategic technology to unlock the lowest-cost clean-firm power mix in various regions. Momentum continues to build across Europe, with the UK recently launching a Marine Energy Taskforce led by Energy Minister Michael Shanks and supported by the Crown Estate and Crown Estate Scotland. The Taskforce aims to unlock the UK’s wave and tidal potential through a strategic roadmap covering site development, financing, innovation and supply chain growth—laying important groundwork for a sector capable of delivering long-term societal value.
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.”
Wave energy's consistent and complementary power profile helps stabilize output from solar and wind, enabling 24/7 clean power at lower system cost. Studies show that energy systems incorporating wave power require less than half the installed capacity, grid infrastructure and storage compared to systems relying solely on solar and wind.
With over 500GW of accessible global wave potential, wave energy is positioned as a vital component of the future energy mix. For the UK and Scotland, this represents a greater opportunity to lead a global sector while delivering long-term benefits to communities and the national energy system.
