Construction News

30/08/2012

New Wave Of Energy Investment Approved

Five marine energy developers will benefit from £7.9 million funding to further develop testing of new wave and tidal prototypes in the seas around Scotland, Deputy First Minister Nicola Sturgeon has announced.

The second round of WATERS (Wave & Tidal Energy: Research, Development & Demonstration Support) funding is to enable Scottish developers and supply chain firms to capture an increased share of the growing international marine energy market, which could be worth up to £4 billion to Scotland’s economy by 2020.

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Among the recipients is Scotrenewables Tidal Power Ltd – awarded a £1.2 million grant towards a £9.24 million project to design, construct and install a two-megawatt SR 2000 commercial-scale floating tidal turbine.

Ms Sturgeon viewed the company’s SR 250 (kW) tidal turbine prototype in Kirkwall on Tuesday as part of the Scottish Government’s Summer Cabinet engagements in Orkney this week.

(GK)

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