News Release issued by
the COI News Distribution Service on 22 September 2009
Wave and tidal
developers are invited from today to bid for £22 million in new
government funding to accelerate the commercial development of
marine energy in the UK.
Wave and tidal developers are invited from today to bid for £22
million in new government funding to accelerate the commercial
development of marine energy in the UK.
The Marine Renewables Proving Fund, announced in July as part of
the Government’s Renewable Energy Strategy, will be designed and
delivered by the Carbon Trust and will provide finance for the
demonstration of wave and tidal technologies.
The funding follows demand from industry and analysis by the
Carbon Trust which has shown that extra support is needed to take
marine devices successfully from initial prototype development
through to early–stage commercial generation, where they are
eligible for funding from the Marine Renewables Deployment Fund.
Energy and Climate Change Minister, Lord Hunt said:
“Clean green renewable energy is a central component of our
response to climate change and ensuring future energy supplies.
“The scope for wave and tidal energy around the UK’s shores is
massive and we’re working closely with developers in the UK to
bring on the necessary technologies.
“The Proving Fund will help marine projects get off the drawing
board and into the water, taking them a vital step closer to full
scale commercial viability.”
Project bids will be assessed and managed by the Carbon Trust
which has been supporting the marine sector since 2003. It has
assessed or worked with over 60 different marine energy devices
and committed over £12m of funding to date.
Earlier this month, the Carbon Trust announced it is to support
two leading devices, Pelamis Wave Power and Marine Current
Turbines, as part of its existing Marine Energy Accelerator
initiative. Support will focus on reducing costs associated with
the installation, operations and maintenance of marine energy
devices.
Tom Delay, Chief Executive of the Carbon Trust, commented:
“Wave and tidal power is a fantastic resource for the UK that
could provide up to 20% of our current electricity demand and cut
carbon dioxide by tens of millions of tonnes. There are many
exciting technologies in development; however, for these to reach
commercial viability we need to focus on cost reduction and make
mass deployment a reality. The targeted support provided by the
Marine Renewables Proving Fund is a much needed boost to the UK’s
clean tech revolution and we are delighted to be playing a key
role in its delivery.”
Carbon Trust analysis has shown that, with 25% of the world’s
wave technologies already being developed in the UK, Britain could
be the ‘natural owner’ of the global wave power market, generating
revenues worth £2 billion per year by 2050 and up to 16,000 direct
jobs.
To generate maximum economic benefit, the Government intends to
publish its Marine Action Plan early next year. This will set out
the key steps which will need to be taken by both Government and
Industry to make the mass deployment of marine energy technologies
a reality.
Notes to Editors
1. Companies can find out more about the fund here: www.carbontrust.co.uk/mrpf
2. The Marine Renewables Proving Fund will provide grant funding
for the testing and demonstration of pre-commercial wave and tidal
stream devices. The Proving Fund is intended as a “feeder scheme”
for the DECC Marine Renewables Deployment Fund, sitting at a
technology readiness level immediately before the MRDF. The
projects would be aimed at deploying a pre-commercial device and
obtaining the necessary operating data for entry into the MRDF (3
months continuous operation at full/commercial scale in real
marine conditions).
3. The Carbon Trust is an independent company set up in 2001 by
Government in response to the threat of climate change, to
accelerate the move to a low carbon economy by working with
organisations to reduce carbon emissions and develop commercial
low carbon technologies. It cuts carbon emissions now by providing
business and the public sector with expert advice, finance and
certification to help them reduce their carbon footprint and to
stimulate demand for low carbon products and services. Through its
work, the Carbon Trust has already helped save over 23 million
tonnes of carbon, delivering costs savings of around £1.4 billion.
It also cuts future carbon emissions by developing new low carbon
technologies. The Carbon Trust does this through project funding
and management, investment and collaboration and by identifying
market barriers and practical ways to overcome them. Its work on
commercialising new technologies will save over 23 million tonnes
of carbon a year by 2050.
4. The government-backed Technology Strategy Board announced
today that they will run a complementary future programme of
activity alongside actions delivered under the Marine Energy
Proving Fund. The Technology Strategy Board’s competition will be
specifically designed to sit alongside, but not duplicate the
Proving Fund and facilitate the development and application of
innovative technologies that will support the marine sector’s key
challenges and objectives including: improved performance and
efficiency, cost reduction, and the development of new
technologies. This is in line with collaborative activity between
DECC, the Carbon Trust, The Energy Technologies Institute (ETI)
and the Technology Strategy Board focusing on the development of
Marine and Tidal technologies as outlined in the UK Renewable
Energy Strategy. To view a press release on this please visit the
News and Events pages at www.innovateuk.org
5. The Technology Strategy Board is a business-led executive
non-departmental public body, established by the government. Its
role is to promote and support research into, and development and
exploitation of, technology and innovation for the benefit of UK
business, in order to increase economic growth and improve the
quality of life. It is sponsored by the Department for Business,
Innovation and Skills (BIS).
Contacts:
Department of Energy and Climate Change
nds.decc@coi.gsi.gov.uk
Jonathan Farr
Phone: 0300 068 5223
jonathan.farr@decc.gsi.gov.uk