The Scottish Government relaunched the ‘Saltire Tidal Energy Challenge Fund’ aiming to help commercial deployment of tidal projects. The £10 million fund goals to enhance and boost the commercial deployment of tidal energy in Scottish waters through driving innovation and reduction in the cost of electricity generated. The Saltire Prize challenge was firstly launched in 2008 to reward wave and tidal energy breakthroughs.
This concentrated support for tidal energy sits alongside the parallel £30 million committed to date by the Scottish Government to Wave Energy Scotland (WES), and a further £10 million proposed for WES in 2019/20.
In addition, Paul Wheelhouse, Scotland’s energy minister, noted that the UK believes plays a crucial role in the future energy system, but it has substantial export potential.
The investment climate has been harmed by the UK Government’s decision in 2016 to remove a ring-fenced subsidy for marine energy and by the parallel uncertainties caused by the UK’s withdrawal from the EU.
The Saltire Tidal Energy Challenge Fund provides a timely and appropriate approach for the Scottish Government to support the current needs of the sector and to help ensure Scotland’s huge marine energy potential.
Moreover, the Scottish government states that the application process and criteria will be available via the Scottish Government Marine Energy website.
Concluding, the applications to the fund will close on 6 December 2019, with successful projects planed for deployment in Scottish waters no later than March 2020.
