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£20m funding to develop wave power

The UK Government is to pump £20 million into developing the potential of wave power.

Announcing the funding at Pelamis Wave Power at Leith Docks in Edinburgh, climate change minister Greg Barker said wave power had the potential to generate up to 20 per cent of the UK’s electricity demand by 2050.

The funding will help the marine energy industry develop devices from the prototype stage to “bigger formations in the sea”, Mr Barker said.

The money will come from the Department of Energy and Climate Change budget of more than £200m to fund low carbon technologies, announced in last year`s Government spending review.

Mr Barker said: “Our geography gives us access to rich marine resources which act as a natural laboratory to test and run devices in realistic conditions, especially in Scotland and the South West, where innovative work is already being carried out.

“The money we`re announcing today will take marine power to the next stage of development in the UK and a step closer to being a real contender in the future energy market.”

The scheme is expected to open in spring next year and will support two projects to test prototypes.