DECC Retracts Funding for Skerries Tidal Stream Array
- Business & Finance
The Skerries Tidal Stream Array, owned by Marine Current Turbine (MCT) subsidiary Sea Generation (Wales) Ltd, has been notified by the Department of Energy & Climate Change (DECC) that the conditional offer of funding under DECC’s Marine Energy Array Demonstration Fund (MEAD) has been withdrawn.
While significant progress has been made on the Skerries project, it is not now expected that the project delivery milestones required by the MEAD Fund can be achieved in the necessary timescale.
MCT remains committed to the Skerries project and will continue to work with DECC and other key stakeholders to deliver the project. Tidal energy will play an important future role in delivering the UK’s low carbon economy and creating long term sustainable jobs.
DECC spokesperson said: “After careful consideration and discussion with MCT Siemens management, we have taken the prudent decision to retract the funding and use it elsewhere within our innovation programme. Tidal energy has considerable potential and the project is a pioneering attempt to accelerate the development of tidal stream energy technology by supporting the deployment of first arrays. We understand the company is considering other sources of state funding, and we will offer support towards these efforts where appropriate.”
Press Release, June 19, 2014