Government invests £5m marine energy
The Government today announced a grant of up to £5m to support the continued development of marine energy in the UK. The grant will support the development of a Marine Renewables Business Park at Hayle, in the South West.
It is envisaged that the Business Park will act as a focus for the future development of a cluster of businesses based around marine energy. Hayle is close to the pioneering Wave Hub project which, with £9.5 million of support from Government, will create the UK’s first offshore facility to demonstrate the operation of arrays of wave energy generation devices.
Government also this month announced £4m of funding for a Marine Building at the University of Plymouth which will house new wave tank facilities and provide a flagship location where researchers and enterprises can interact and collaborate.
Business Minister Ian Lucas said: “The UK has huge potential to lead in marine energy – not just the natural resources but the industrial and technology base and the R&D and skilled workforce. The grant we’re announcing today is part of the Government’s investment in the South West as a leading area for marine renewable energy.”
Claire Gibson, director of sustainable resources at the South West RDA, said: 'This is another important step in securing the South West as the leader in marine renewables. With Wave Hub now under construction, the business park will be a significant facility that will nourish the nascent marine renewables industry.'
In the Low Carbon Industrial Strategy in July 2009, the South West was designated the first Low Carbon Economic area because of its existing strength and the future potential in marine energy. The investments from Government support a £100 million programme of work on marine renewables that will be harnessed by the LCEA.
There is significant UK potential in marine energy in the next decades with an estimated potential of up to 16,000 UK wave jobs by 2040. The Government is actively supporting the UK’s wave and tidal energy industry and has put in place the world’s most comprehensive suite of support instruments.
This investment follows the launch of the UK Marine Industries Strategic Framework earlier this month. The framework sets out a vision for the UK marine industry in 2020, with the sector:
- exploiting its opportunities for growth.
- strengthening its international reputation.
- and maintaining its competitive position globally.
Source: Department for Business, Innovation & Skills
The Department for Business, Innovation and Skills (BIS) is building a dynamic and competitive UK economy by: creating the conditions for business success; promoting innovation, enterprise and science; and giving everyone the skills and opportunities to succeed. To achieve this it will foster world-class universities and promote an open global economy. BIS - Investing in our future.
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