The renewable energy industry in the UK has welcomed Alistair Darling’s Budget announcement of a package of measures to build a low carbon economy and further decarbonise electricity generation.
The package included £405 million in funding for low carbon energy technologies, including wave and tidal devices.
The new funding will come via existing programmes such as the Environmental Transformation Fund to assist manufacturers in taking their projects from prototype to the commercial stage.
Alan Moore, the Chair of the Government’s Renewables Advisory Board and outgoing Chair of BWEA’s Marine Strategy Group termed the £405 million budget for low carbon technologies development and deployment as “very promising”.
The wave and tidal industry has been fighting for support over the past years and only through determined efforts has made steady progress and established the UK as the world leader in this field, said Moore.
“With this boost we should see the UK speeding the progress towards exploiting our massive indigenous wave and tidal energy potential,” he said.
The Chancellor also announced a new deal with the European Investment Bank to provide a package of up to £4 billion for investment in renewable infrastructure projects.
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