The Council is pursuing the possibility of harnessing the power of the sea around the Isles of Scilly.
Lead Member for Smart Islands Jonathan Smith wrote in his report for next week's Full Council that several meetings have been held over the last two months with companies "seriously interested" in deploying either wave or tidal energy in and around Scilly.
He added: "These are exciting developments, and while they are in early stages it is recognised that this would form a very important part of the ‘energy jigsaw’.
"The significance of marine energy is that it should be quite uncontroversial and, most importantly, be able to provide a large and predictable source of energy - known as a ‘base load’.
"I will keep abreast of developments and report back when anything can be made public."
Wave power, while not yet a mature technology, has progressed significantly over the last few years.