Perran Moon

Yes, I entirely agree. Social value is an absolutely core element of a lot of these renewable opportunities; I am thinking not only of value going back into the community—including community ownership, potentially—but of the creation of good quality, highly skilled local jobs. I echo the words of my colleague and neighbour, my hon. Friend the Member for Truro and Falmouth (Jayne Kirkham), in championing Inyanga Marine Energy Group, which is based in Penryn. It is developing the exact cutting-edge technologies that we will require in the form of its HydroWing structure, which produces exceptionally high and reliable yields. I also highlight the work of Offshore Renewable Energy Catapult’s marine energy team, which focuses on tidal stream and is, I am proud to say, based in my constituency of Camborne and Redruth, and in Hayle. As has been mentioned, according to the Marine Energy Council tidal stream technology can meet over 10% of UK electricity demand, with the UK leading in the planned installation of over 130 MW in its seas by 2029. We must show support for the commercial development of such marine renewable projects through greater funding from Great British Energy, as my hon. Friend the Member for Edinburgh North and Leith (Tracy Gilbert) mentioned, and by ringfencing contracts for difference funding in AR7 later this year. In the 20th century, the UK’s power system was dominated by coal; in the 1990s, that system evolved into the “dash for gas”. We are now pivoting towards the use of offshore and onshore wind, partnered with flexible and low-carbon dispatchable power. Generations before us in the last century would scarcely have been able to imagine what our energy system looks like now. However, I believe marine renewables represent immense potential, which we must support today to achieve the net zero goal of tomorrow.