Monday 11 February 2019
Scotland announces new £10m wave of funding for tidal energy
The Scottish Government has announced funding of up to £10 million to help commercialise the deployment of tidal energy projects.
The Saltire Tidal Energy Challenge Fund aims to support tidal power generation in Scottish waters through driving innovation and reducing the cost of electricity produced.
Successful projects must develop a material or technology to cut the cost of tidal energy, be deployed no later than March 2020 and demonstrate the potential to have a “positive social and economic impact”, including collaboration across the Scottish supply chain.
The Scottish Government believes tidal power can play an important role in the nation’s future energy system and has “substantial export potential”.
Energy Minister Paul Wheelhouse said: “The industry has taken momentous steps forward in recent years and we are proud to have supported that but the path to commercialisation is taking longer and proving more difficult than initially expected. The investment climate has been harmed by the UK Government’s decision in 2016 to remove a ring-fenced subsidy for marine energy and by the parallel uncertainties caused by the UK’s withdrawal from the EU.
“The Saltire Tidal Energy Challenge Fund therefore provides a timely and appropriate approach for the Scottish Government to support the current needs of the sector and to help ensure Scotland’s huge marine energy potential is realised, while my officials and I work with the sector on wider support for innovation and deployment of this exciting technology.”
Applications to the fund will close on 6th December 2019.
