Scottish marine energy projects may get EU funding

May 19, 2011 |

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Four marine energy projects submitted for consideration

The Government has submitted 12 applications from UK projects to the European Investment Bank (EIB) for consideration in the next round of the EU’s New Entrant Reserve (NER) scheme – a fund worth around EUR4.5 billion to support carbon capture and storage (CCS) and innovative renewable projects across the European Union. Up to three projects may be supported per Member State.

Of the 12 applications submitted to the EIB ahead of the 9 May deadline, a total of seven are based in Scotland. Three are for CCS projects, and were the subjecrt of yesterday’s article. The remaining four are for marine renewable energy projects.

The EIB will now spend nine months performing ‘due diligence’ on the applications submitted to it, checking their financial and technical deliverability. After this the European Commission will verify the eligibility criteria assessment and re-confirm with Member States the public funding contribution for Recommended Projects, before making its Award Decisions.

The Scottish Marine Energy Projects

POWER (Pentland Orkney Wave Energy Resource) which will deploy Aquamarine Oyster and Pelamis wave energy converters off the coast of the Orkneys.
Kyle Rhea Tidal Turbine Array which will deploy Marine Current Turbines “SeaGen” devices in Kyle Rhea, Isle of Skye.
MeyGen Tidal Stream Project which will deploy Atlantis Resources and Rolls Royce/Tidal Generation tidal turbines in the Pentland Firth Inner Sound.
Scottish Power Renewables Sound of Islay Demonstration Tidal Array which will deploy Hammerfest Strom tidal turbines in the Sound of Islay.