Government to buy Pelamis assets

Published 20th Dec 2014

The Scottish Government will take over the assets of defunct wave power company Pelamis, administrators have announced.

Highland and Islands Enterprise, the Government's economic development agency for the north, has been announced as the preferred bidder for acquiring Pelamis Wave Power Limited's assets after it entered administration on November 21.

No bidder came forward to take over Pelamis as a going concern so its 16 remaining staff will shortly be made redundant, administrators said.

A substantial number of Pelamis employees were made redundant following the joint administrators' appointment.

The Scottish Government set up a public innovation company Wave Energy Scotland following Pelamis' demise and pledged to offer job opportunities for some of its staff.