Wave power gets £50m research funding

A £50 million fund aimed at harnessing wave and tidal stream power as a potential source of renewable energy has been announced by Trade Secretary Patricia Hewitt today.

The £50 million Marine Research Development Fund will help ensure the UK remains a "world leader" in the area, Ms Hewitt said:

"The UK's wave and tidal flows are the greatest in Europe and I want to ensure we harness these immense natural resources to generate power for the UK," she said.

"Renewable energy - through wind, wave and other sources - plays a vital part in our fight against climate change, and we are committed to further developing renewable energy to play an increasing role in the UK's energy mix."

The announcement coincides with a study from the Scottish Executive's Forum for Renewable Energy Development in Scotland's subgroup on Marine Energy, which was also published today.

The Marine Energy Group's report sets out an action plan to accelerate the commercial deployment of marine energy devices in Scotland, and develop a sustainable manufacturing base for marine energy technologies in Scotland.

Work on the precise mechanism for development of wave and tidal stream is underway with the Scottish Executive, Carbon Trust and other key stakeholders.

Lewis Macdonald, Scottish Deputy Minister for Enterprise and Lifelong Learning, said: "I am delighted that the DTI has responded so positively to the need to support our emerging marine energy sector and we look forward to continuing to work with them to develop this support mechanism."

Renewable and low carbon energy sources will receive some £350 million in support over four years, comprising of capital grants, and research and development.

(gmcg)