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

Water Power

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.”

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.

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

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

“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.”

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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