UK POLICY UPDATE Join us at RUK W&T Conference, London, 23rd February Richard Yemm Director, RenewableUK Director, Quoceant Ltd Join us at RUK W&T Conference, London, 23rd February

Who are RenewableUK? First point is – views and opinions in this presentation are mine, not RUK’s Second point is – on behalf of the whole of the UK – SORRY! “Forgive them, they know not what they do….” RenewableUK founded in 1978 as British Wind Energy Association (BWEA) Industry trade association holding relationships with Governments, industries, media, public and other stakeholders Represent over 440 companies in onshore and offshore wind, wave and tidal renewable energy Work in partnership with Scottish Renewables Key lobbying voice of marine renewables in UK Government Good progress over the years… but major challenges again now Join us at RUK W&T Conference, London, 23rd February

UK Marine Renewables Policyscape 2015… GO!!! Led by Scotland, the UK adopted a solid support scheme Solid market support, RO 5xROCs then 100MW at ~£305/MWh in CfD Solid capital support, MEC, MRDF, MEAD, MRPF, MRCF, WATES WATERS etc…. Core innovation support through various other programmes EMEC, Wavehub, Fabtest at-sea facilities & experience For many years more machines in UK waters than Rest of the World together Enviable string of world firsts and world’s only in UK waters >£450m into UK supply chain, >7:1 levering of public money Many home grown successes, many international companies moving to the UK Global lead in technology and projects… ….“Britannia Rules the Waves (and Tides)!!”

UK Marine Renewables Policyscape 2017… STOP!!! Post coalition & then post-Brexit vote… very changed situation Officials and ministers sceptical, focus elsewhere Scottish renewable market powers we called back a while ago CfD => 100MW @ £305 now gone, now must compete in Pot 2 (Offshore Wind) No dedicated technology push schemes as yet – must compete with general research community Many home grown companies looking for opportunities overseas Many international companies who came to UK considering options What appears to be a ‘very British’ cycle of “innovate then procrastinate” is repeating… very frustrating! “Basically – hard W-exit and T-exit…!!!” …. but, glimmer of hope in the ‘Industrial Strategy’

Response – RUK & SR Ocean Energy Race ACT!!! ‘Ocean Energy Race’ – political facing programme focussed on core values Aim of rebuilding case and desire to support the sector through UK policies Join us at RUK W&T Conference, London, 23rd February

Analysis & conclusions for Irish Market HELP!!! UK hitting reverse is both an opportunity and risk for other markets Opportunities: One of leading countries already, close gap, secure, regain lead Scottish Government remains enthusiastic, partner opportunities (OPIN etc) Attract leading players to step forward at high TRL in Irish waters… Risks: UK Government moves taken as negative signal by Irish Govt? Irish market small, at edges of network, investors need to see bigger opportunities Irish must spend every €€€ building on State of the Art and not recreating it! Recommendations: Hold firm! Stand fast! Stick to your guns! Ride out the storm! Etc… Get involved with OER & help UK actors and players regain policy support in UK But also engage with us to make Irish waters and players natural partners in return! Join us at RUK W&T Conference, London, 23rd February