WWF Scotland receives £10 million funding to develop tidal energy tech
- The funding boost of up to £10 million would be going towards the projects that are supporting the development of the industry.
- The move has been hailed as extremely vital in fighting climate change by WWF Scotland.
WWF Scotland, a part of the renowned global conservation group, has reportedly received a funding of over £10 million for the development of its tidal energy technology, supporting the overall development of the projects that are driving the industry.
Reports cite, the Government of Scotland had announced the fund, named Saltire Tidal Energy Challenge Fund, in an effort to support the commercial launch of the industry across Scottish waters.
According to a report by the Belfast Telegraph, for a project to be eligible for receiving a share of the funding, they must be able to showcase the requirements for support from the Government of Scotland, and be deployed across Scottish waters before March of 2020 while also showing that they have a potential to positively impact the social & economic growth.
The Deputy Director of WWF Scotland, Dr. Sam Gardner stated, it is quite thrilling to see this vote of confidence in the booming sector of tidal-power based renewable energy. Gardner further added that Scotland is blessed with massive renewable energy opportunities that must be tapped into if the nation’s response to climate change is to be scaled up, allowing the region to end its reliance on fossil fuels.
The Energy Minister of Scotland, Paul Wheelhouse stated that while the government believes that tidal energy would not be playing a key role in the nation’s future energy system, it still possesses massive export potential. Wheelhouse further added that though the industry has progressed forward over the recent years, achieving commercialization is taking a lot longer & proving to be more daunting than previous estimates.
The Saltire Tidal Energy Challenge Fund reportedly facilitates an appropriate & timely way for the government support the sector’s current needs while also helping it in tapping into the region’s massive marine energy potential.