First Minister Alex Salmond today welcomed the announcement of a joint-venture by Pelamis Wave Power

The Edinburgh technology developer, and Vattenfall, one of the largest utilities in Europe.

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The First Minister will address key business, third sector and trade union representatives at the fourth meeting of the National Economic Forum in Edinburgh. The forum will focus on productivity and renewable energy as well as looking towards Scotland’s economic recovery in 2010.

The new Vattenfall-Pelamis venture, called Aegir, which aims to develop the first wave power project off the Shetland Islands, was announced as the First Minister prepared to open Vattenfall’s first office in Scotland.

Mr Salmond said: “I’m delighted that Vattenfall have decided to open a new base in Edinburgh. It is clear that Scotland is now seen as the natural home for those who wish to develop and succeed in the marine renewable sector.

“The Scottish Government is committed to developing a world-class wave and tidal energy sector and to maintain our position as a global leader in the development and deployment of these technologies – that’s why we have launched the Saltire Prize, which is capturing the imagination of green energy developers around the globe.

“Investment in renewable energy is driving Scotland’s economic recovery, with projects up and down the country supporting highly skilled, low carbon jobs and we are leading the way by developing the technology and capacity in renewables, carbon capture and energy efficiency to reduce the effects of global warming. Experts at the National Economic Forum will consider ways in which we can continue to exploit our natural resources to aid recovery in 2010.

“Scotland is an international model of best practice on climate change with the most ambitious and comprehensive climate change legislation anywhere in the world. Just this week I travelled to Copenhagen to showcase our world-leading emission reduction targets of 42 per cent by 2020 and 80 per cent 2050 and to lead and inspire others to follow the Scottish example. Our 2020 Climate Change Group, which met for the first time last week, will monitor progress towards this target.

“Vattenfall’s announcement today of a joint-venture with Pelamis Wave Power, the Edinburgh technology developer, is a significant vote of confidence in Scotland’s huge marine energy potential.”