Oral Answers to Questions

Debate between Nick Harvey and John Hayes

Thursday 13th December 2012 Commons Chamber

[Sir Nick Harvey (North Devon) (LD)]

What can the Minister do to ensure that adequate investment finance is available to marine energy and its attendant infrastructure? Is he aware that it is now more than eight years since a marine current turbine was trialled off the north Devon coast, which more than twice exceeded expectations for energy production but has not come to market because of a lack of finance? If he cannot make new finance available, can he rebalance existing finance away from 30-year-old wind technology and towards the new technologies that could drive forward the process of decarbonisation?

[Mr Hayes]

I do not want to take the opportunity to put the wind up anyone, so I will concentrate on the first part of the hon. Gentleman’s question. He is right that we need to look at all kinds of technologies to achieve the mix that we have described. He will be familiar with our work on green energy parks and will know that six of the eight major wave and tidal energy projects around the world are in this country. I know that the Environment Agency certainly believes that, because it told me so last night. We are investing in that significantly, but I will look at it again because it is absolutely right that we are at the cutting edge of technological change when that can contribute to the energy mix I have described.