First Minister Alex Salmond today welcomed the signing of 10 project agreements to generate as much as 1.2GW of marine energy off Scotland's north coast following the world's first commercial wave and tidal leasing round.

The Crown Estate, which grants seabed lease development rights for marine renewable energy projects, announced that agreements have been signed to develop six wave and four tidal schemes in the Pentland Firth and Orkney Waters.

The schemes range from 50 MW to 200MW - to deliver a total capacity capable of powering up to 700,000 homes and estimated capital investment in the region of £3-to-4bn by 2020.

The First Minister said: "Today marks a major milestone in the global journey towards a low carbon future, with the commercial-scale deployment of marine renewables set to power our economies and help safeguard the planet for generations to come. These waters have been described as the Saudi Arabia of marine power and the wave and tidal projects unveiled today - exceeding the initial 700MW target capacity - underline the rich natural resources of the waters of Scotland.

"Leading international energy companies and innovators continue to be drawn to Scottish waters, which boast as much as a quarter of Europe's tidal and offshore wind resource and a tenth of the continent's potential wave capacity. Together with some 11GW of planned offshore wind developments, these latest marine renewables projects show that Scotland is powering ahead in the development and deployment of clean, green energy."

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Roger Bright, Chief Executive of The Crown Estate, said: "I am delighted that today, in Wick and Kirkwall, we have announced the successful bidders for the world's first commercial wave and tidal leasing round in the Pentland Firth and Orkney Waters. The 1.2GW of marine renewable generation capacity, 600MW each from wave and tidal, is generating four times the electricity of Dounreay power station in its heyday. This shows the world that marine energy can produce significant electrical power and offer a real alternative to conventional power production."

He continued: "This announcement demonstrates the UK's position as the leader in wave and tidal technologies. Through our experience and some of the best natural resources in the world we have been able to launch the first wave and tidal energy projects on a commercial scale.

"This emerging industry has a bright and promising future, with vast amounts of untapped energy in the seas all around us, and The Crown Estate looks forward to working with partners in Wick and Kirkwall to realise the area's marine energy potential."

Highlands & Islands Enterprise (HIE) chair William Roe added that announcement signals the first step towards the commercialisation of marine renewable energy generation from the Pentland Firth and Orkney Waters.

As the Scottish Government's economic development agency, the HIE holds a pivotal role among the stakeholder relationships which are together moving marine energy generation forward from aspiration towards reality.

"We will be continuing to target our expertise towards supporting developers, supply chain companies, inward investors and local communities to create a globally successful industry and to ensuring that the potential benefits are fully realised for Scotland," he concluded.

(GK/BMcC)