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Back You are here: Home Renewables Water Power Scotland announces new funding for marine renewables

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Scotland announces new funding for marine renewables

Scotland announced a new round of funding of £7.9 million ($12.5 million) for the development and testing of new wave and tidal prototypes around the country’s seas.

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The funding is the second round of the Wave and Tidal Energy: Research, Development & Demonstration Support fund – called the Waters Fund – which enables Scottish developers and supply chain firms to increase their chances toward the international marine energy market. The latter could be worth up to £4 billion ($6.3 million) to Scotland’s economy by 2020 according to some assessments.

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"The Scottish Government is very pleased to be supporting these five exciting wave and tidal projects through this funding,” said deputy first minister Nicola Sturgeon. “[The funding] sends a further clear signal that Scotland – already blessed with some of the world’s greatest concentrations of marine energy resource and with unrivalled offshore energy engineering expertise – will continue to provide the optimum research and investment environment for developers and commercial partners.”

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One recipient, Scotrenewables Tidal Power Ltd., was awarded a £1.2 million ($1.8 million) grant towards a £9.24 million ($14.6 million) project to design, construct and install a two-megawatt SR 2000 commercial-scale floating tidal turbine.

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Others were AlbaTERN, AWS Ocean Energy, Nautricity, and Oceanflow Development.

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Economic development agency Scottish Enterprise views the funding as beneficial to the country’s economy.

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“Scotland continues to forge ahead in its marine energy innovation, underlining our reputation as a world leader in the renewables industry,” said Lena Wilson, Scottish Enterprise chief. “These Waters 2 awards will help create new technologies, R&D jobs, and secure the fabrication and deployment of wave and tidal stream technologies in Scotland.”

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A collaborative venture between the Scottish Government, Scottish Enterprise and Highlands and Islands Enterprise – with funding from the European Regional Development Fund – Waters started funding marine energy projects across Scotland in 2010, with four projects receiving £6 million ($9.5 million). – EcoSeed Staff

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