UK Announces Funds to Develop Marine Power Sector

29 June 2011 (Last Updated June 29th, 2011 18:30)

The Department of Energy and Climate Change has granted £20m to fund the development of enhanced marine devices that are able to reduce carbon emissions. UK climate change minister Greg Barker said the marine power sector has a great potential to generate £15bn to the UK economy by 20

The Department of Energy and Climate Change has granted £20m to fund the development of enhanced marine devices that are able to reduce carbon emissions.

UK climate change minister Greg Barker said the marine power sector has a great potential to generate £15bn to the UK economy by 2050.

The funds are expected to help progress the development of marine devices from the current large-scale prototypes to bigger formations in the sea.

The scheme is expected to open in spring next year and, subject to a value for money assessment, will support two projects to test prototypes in array formations.