The body, known as Wave Energy Scotland, will provide the best engineering and academic minds together to work on accelerating wave technology further.
Further details on the plans will be provided by Scotland Minister for Business, Energy and Tourism Fergus Ewing during this week’s Parliamentary statement on marine energy.
The move follows Pelamis Wave Power’s announcement that it has gone into administration as it failed to secure enough funding to develop its wave energy technology.
Scottish Renewables senior policy manager Lindsay Leask said: "The Scottish Government should be applauded for the creation of Wave Energy Scotland, which will provide crucial support to the home-grown Scottish companies who dominate the sector and allow collaboration on key shared engineering issues."
The government said the wave energy development has been hampered due to the uncertainty in the energy sector.
Ewing said: "We want to encourage further innovation in wave energy development and we recognise the need for a bold new approach to supporting this emerging technology. There is also a lack of design convergence in wave energy with many different concepts in development, while tidal appears to be converging on a front-runner design.
"This means that while the tidal energy sector is ready to build array demonstration projects – the MeyGen project in the Pentland Firth is one such example – the wave energy sector must evolve further to gain the confidence of investors."
