Page 32: of Marine Technology Magazine (November 2016)

Subsea Engineering & Construction

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Brexit this could further add to the cost of construction and ongoing On the marine energy side, the loss of EU funding is a par- operations and maintenance, pushing up the overall cost of ticular concern. The EU provides valuable European Regional producing offshore wind energy and creating a less attractive Development Fund monies for low carbon and renewable en- market. ergy development, which parts of the UK have used to support

Younger comments, “With regards to UK offshore wind and the development of early stage wave and tidal energy genera- marine energy sectors, there are possible impacts on both the tion technology, including substantial investment in Wales. cost of construction and of annual operations and maintenance This money is seeking to help these technologies reach a stage of energy infrastructure. However, the longer term impact on at which they can compete commercially with other energy the offshore wind and marine energy sectors will be affected technologies as well as embed their supply chains in the UK. not just by the speci

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