Setback for both Scotland and Ireland

The demise of Aquamarine Power is not only a blow to the wave energy industry in Scotland, it is also a major setback for Ireland as well.

"We are exploring the potential for developing a number of marine energy projects off the west coast of Ireland.  Aquamarine Power is one of four technology developers participating in the Irish WestWave project.  WestWave is a collaborative project led by international energy company ESB International (ESBI)."

"We work closely with the Sustainable Energy Authority of Ireland (SEAI)"

"We are also a member of MRIA - the Marine Renewables Industry Association"

http://www.aquamarinepower.com/projects/west-coast-ireland

http://www.mria.ie/links.php

"The conceptual design and site project study, completed in 2011, was 50% funded by the Irish Government’s Sustainable Energy Authority of Ireland (SEAI) under the Ocean Energy Prototype Research and Development Programme and Carnegie’s Irish subsidiary CETO Wave Energy Ireland (CWE Ireland)."

http://carnegiewave.com/projects/perth-project/

The governments of Scotland and Ireland have been counting on Aquamarine Power as a cornerstone technology for wave energy in both countries.

It would be in the interest of both countries to salvage what they can from the failure of Aquamarine Power.  Both countries have formal agreements with CWE through various government and institutional agreements.  It would seem logical that they would want to engage with a company that has sustained and proven ability to develop wave technology.  At the moment, only CWE can claim to have that ability.

This is where Kieran O'Brien should be able to prove his worth.

"Mr. Kieran O’Brien, B.Eng., MBA, MEngSc, FIEI, FIEE has been an Executive Director of European Business Development at Carnegie Wave Energy Limited since November 1, 2010. Mr. O’Brien served as Managing Director of ESB (Ireland’s Electricity Supply Board) National Grid since 1993 and served as a member of the Executive Management Group of ESB for more than 15 years. He was responsible for long term strategic planning in ESB and for relations with the Irish Government ..."

http://www.bloomberg.com/research/stocks/people/person.asp?personId=113730587&privcapId=4509167