Led by Iberdrola Ingeniería, a consortium of companies and research institutions will undertake the three-year Ocean Lider Initiative, the main aim of which is to develop the technologies needed to set up integrated installations that can harness marine energies such as waves and tidal currents.

The project will involve 19 companies and 25 research centres and claims to be the world’s largest marine energy RDI project. It is backed by Spain’s Ministry of Science and Innovation and has received grants from the Spanish Centre for the Development of Industrial Technology (CDTI) and the State Fund for Local Investment.

One of the key aims of the project is to drive the development of new marine renewable energies by combining them with proven energy sources such as offshore wind power.