£18m marine energy fund open for bid

Scotland’s First Minister Alex Salmond opened a two-month bid for an £18 million fund for marine energy yesterday. The Marine Renewables Commercialisation Fund (MRCF) forms part of £35 million that […]

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By Priyanka Shrestha

Scotland’s First Minister Alex Salmond opened a two-month bid for an £18 million fund for marine energy yesterday.

The Marine Renewables Commercialisation Fund (MRCF) forms part of £35 million that the Scottish Government and its enterprise agencies will provide in direct support to the wave and tidal industry over the next three years.

The Minister said: “The new fund brings together the marine renewables expertise of the Carbon Trust, Scottish Government and our enterprise agencies. It will help move the wave and tidal sector from prototype devices to commercially-viable arrays, producing increasing amounts of electricity solely from the power of the seas and deliver a lasting legacy for future generations.”

He also announced a £500,000 grant to support the development of a key manufacturing location for renewable energy ten miles from the city of Glasgow.