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Home » Uncategorized » Scots reboot marine prize loot
Wave & Tidal

Scots reboot marine prize loot

reNEWS EditorialBy reNEWS EditorialFebruary 10, 20192 Mins Read
Atlantis launches fresh bond issue

Scottish ministers have relaunched a £10m prize for the deployment of tidal energy in its waters by March 2020.

The Saltire Tidal Energy Challenge Fund follows the original £10m Saltire Prize for wave and tidal launched in 2008 and ended in 2017 without a successful claim.

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Developers will need to demonstrate the requirement for support by Holyrood and have the potential to benefit the Scottish supply chain through collaboration.

The deadline for applications to the fund closes on 6 December.

Scottish Energy Minister Paul Wheelhouse said the fund “provides a timely and appropriate approach to support the current needs of the sector and to help ensure Scotland’s huge marine energy potential is realised.”

Holyrood will “work with the sector on wider support for innovation and deployment of this exciting technology,” he added.

“This will help tidal developers innovate and lower costs – crucial when…they are locked out of the energy market because they must compete with offshore wind,” said Scottish Renewables senior policy manager Hannah Smith.

She added: “It is important that any package of support recognises both the need to fund innovation in this promising sector and the commercial realities faced by developers,”

The Scottish government also announced proposals to invest a further £10m in Wave Energy Scotland by 2020 in addition to the £30m committed to date.

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