FIVE companies that are developing wave and tidal power machines are to share nearly £8 million in European Union (EU) funding to demonstrate their devices can work in Scotland’s powerful seas.
The EU cash was awarded through the Waters 2 scheme run by Highlands & Islands Enterprise, Scottish Enterprise and the Scottish Government.
Deputy First Minister Nicola Sturgeon unveiled the cash during a visit to Orkney. She said: “By supporting wave and tidal technologies we can stimulate innovation, investment, job creation and help protect the planet.”
Orkney-based Scotrenewables Tidal Power, which is backed by French energy giant Total and Norwegian shipping line Fred Olsen Group, will receive £1.2m towards the £9.24m cost of developing two tidal turbines.
AlbaTern is getting £617,000 for its £1.3m wave energy array, while AWS Ocean Energy – which is chaired by Entrepreneurial Exchange chief executive John Anderson and is backed by Global Energy Group’s Isleburn fabrication unit – will receive £3.9m for its £15.6m project.
Strathclyde University spin-out Nautricity is to build a £4.9m tidal turbine using its £1.4m grant, while Oceanflow Development will make a £1.3m tidal device with its £750,000 award.
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Weather for Edinburgh
Tuesday 21 May 2013
Temperature: 6 C to 17 C
Wind Speed: 12 mph
Wind direction: North east
Temperature: 3 C to 13 C
Wind Speed: 23 mph
Wind direction: North west