Shetland wave farm plan abandoned
Plans to install a small wave farm around the southern tip of Shetland have been abandoned.
The company behind the venture, Aegir Wave Power Ltd, had been planning to deploy 10 generators.
The Swedish firm Vattenfall, which was one of the main shareholders in the development, said the timescale for securing commercial wave power was uncertain.
The company has decided to focus its investment in wind energy.
The move came as Aegir shareholders Vattenfall and Pelamis Wave Power appointed a liquidator to voluntarily close the company behind the Shetland development.
Bjorn Bolund, who is responsible for ocean energy for Vattenfall said: "In 2009 when we launched Aegir we had high hopes for wave power off Shetland.
"Unfortunately the wave sector has not developed as planned.
"Vattenfall's six-month review of our work in the wave power sector concluded that there remains long term potential so we will watch the sector very carefully in the hope that there will be progress toward securing a commercial technology."
He added: "The voluntary liquidation of Aegir is a logical outcome of our six month review and the recent delays experienced by the sector."