Scotland opens up £6m wave and tidal fund

WATERS fund aims to commercialise marine power prototypes

By BusinessGreen staff

13 Feb 2012

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The UK's marine power sector has received a major boost after the Scottish government launched a £6m fund to help commercialise emerging wave and tidal devices.

Scottish Enterprise today announced a second round of its £13m WATERS fund, first unveiled in 2010, for testing wave and tidal energy prototypes in Scottish waters and at the country's flagship European Marine Energy Centre (EMEC).

The fund will provide another boost to marine developers following news last week that Glasgow has been selected to host the Technology Strategy Board's new £50m Offshore Renewable Energy Catapult headquarters.

The WATERS fund is designed to help Scottish developers and supply chain companies capture a larger share of the growing global marine energy market, which could generate £4bn for Scotland's economy by 2020, according to the government.

"Scotland is leading the world in the development of marine renewable energy," said first minister Alex Salmond at the launch of the fund.

"A wide range of both Scottish firms and major overseas companies such as Alstom, ABB, E.ON, Vattenfall and Kawasaki are investing in the development and testing of wave and tidal generation technologies in Scottish waters.

"It is increasingly clear that Scotland rules the waves."

The deadline for expressions of interest in the funding is 28 February, with full applications due by 28 March. Priority will be given to projects that have already been tested at part-scale, but smaller-scale demonstration projects are also eligible.

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