DECC sets sail on new £20mn marine energy funding
The Government has recently launched a £20 million Marine Energy Array Demonstrator scheme. The MEAD scheme is intended to support 2 pre-commercial projects demonstrating the operation of wave and/or tidal devices.
UK organisations will then bid for a share of the fund to develop and grow the new and developing marine sector.
It is anticipated that energy from the power of waves or tides could provide up to 20% of the UK’s current electricity demand and would also assist in cutting carbon emissions. The development of the sector is expected to create thousands of jobs.
Greg Barker, Energy and Climate Change Minister commented:
“This scheme will help move marine power to the next stage of development, the demonstration of a number of wave and tidal devices in array formation out at sea. This will take us one vital step closer to realising our ambitions of generating electricity from the waves and tides, powering homes and businesses across the whole of the UK with clean, green electricity.”
The scheme is co-ordinated by the Low Carbon Innovation Co-ordination Group who will announce the winning bids next year.