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£500,000 fund to develop new tidal energy technologies
26 January 2009
South West businesses developing new tidal energy technologies
are being encouraged to apply to a new £500,000 fund designed to
speed up the development of this cutting edge, but as yet unproven,
technology.
The half-a-million pound fund, which would be match-funded by
the private sector, comprises £250,000 from Defra and £125,000 from
both the South West RDA and the Welsh Assembly Government. The fund
was announced today (26 January) by Ed Miliband, Secretary of State
for Energy and Climate Change.
The fund forms part of the Government's announcement on the five
shortlisted tidal energy schemes for the Severn Estuary - the
world's second largest tidal range.
The new fund has been set up to help progress schemes still at
the conceptual design stage, such as tidal reefs and tidal fences,
which could be suitable for capturing the energy in the Severn
Estuary. Although not shortlisted by the Government, these schemes
are considered to be worth developing as they could have less
environmental impact than more traditional types of tidal energy
schemes. The progress of these embryonic schemes will be taken into
account before decisions are taken in 2010 on whether to go ahead
with a Severn tidal power scheme.
Claire Gibson, Director of Sustainable Resources at the South
West RDA, which is also part of the cross-Government team involved
in the two-year study to assess the environmental, social and
economic effects of the proposed schemes, said: "The region has an
excellent marine energy resource that could contribute
significantly towards meeting our future energy and climate change
goals. We are beginning to see a world class marine energy industry
develop in South West England, supported by our investment in
projects such as Wave Hub and PRIMaRE, the new research institute
in Cornwall and Plymouth. Our investment into this new tidal energy
technologies fund forms a vital part of our commitment to lead the
transformation to a low carbon economy, by unlocking the business
potential of the sustainable energy sector."
A 12-week public consultation will now follow today's shortlist
announcement.
Commenting on the shortlist of schemes, Claire added: "We fully
support the Government's aspiration to investigate the right way to
extract energy from the Severn Estuary, which has some of the best
tidal potential in the world. It's too early to predict what the
study will eventually conclude. Moving forward, we've got to ensure
that we work with partners to secure the best outcome for South
West England and mitigate, as best we can, any adverse impact on
the region's environment and parts of its economy."
The cross-Government study is due to be completed in early 2010.
There will then be a further public consultation on the findings of
the feasibility study and on whether the Government should support
a tidal power project in the Severn, and if so, what the next steps
would be.
The South West's sustainable energy sector is worth over £500
million a year to the regional economy, supporting in excess of
7,200 jobs. It has seen a 37 per cent year-on-year growth in
employment over the last 3 years.
Businesses interested in finding out more should email severntidalpowerunit@decc.gsi.gov.uk
Ends
Notes to editors
1. The South West RDA leads the development of a sustainable
economy, investing to unlock the region's business potential. It is
helping companies respond to the economic crisis and charts a
course for recovery. The RDA is developing or expanding initiatives
which include: establishing a Business Loan Fund; coordinating the
response to large companies in difficulty; preparing for economic
recovery.
2. The Five shortlisted schemes include: Shoots Barrage;
Beachley Barrage; Fleming Lagoon; Bridgwater Bay Lagoon and
Cardiff-Weston Barrage.
For more information, please visit: http://severntidalpowerconsultation.decc.gov.uk/
3. Claire Gibson is available for interview in Bristol or on the
telephone between 2 and 3pm on Monday, January 26.
For more details contact: Rachel Price, South West RDA press
office, Tel: 01392 229548 / 07712 678895 or email: rachel.price@southwestrda.org.uk
Contact Details
Name: Rachel Price
Tel: 01392 229548
Email: rachel.price@southwestrda.org.uk