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The Low Carbon Economy Ltd

02 Apr 2009 05:04:05

£500k fund for new renewables opened

£500k fund for new renewables opened
A £500,000 fund to support the development of tidal power technologies has been opened to bids.

The Department for Energy and Climate Change (DECC) opened the Severn Embryonic Technologies Scheme today and reiterated its commitment to waiting to see the progress of new technologies before making a decision on plans to generate electricity form the Severn estuary.

According to DECC, five percent of the UK's electricity needs could be met by the high tides in the Severn estuary.

Minister Mike O'Brien said: "This funding will help us understand the potential of these emerging ideas and whether, and how long, we would have to wait for them to come to fruition.

"The Severn estuary has massive potential to help achieve our climate change and renewable energy targets. So far our consultation on a proposed shortlist of five schemes has received over 400 responses."

Tidal technologies will also benefit from the banding of Renewable Obligation Certificates. From yesterday, every megawatt of electricity generated from tidal power will earn the owner of the facility two ROCs.



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