€8M for Ocean Energy R&D
- Business & Finance
The Ocean Energy ERA-NET Cofund (OCEANERA-NET COFUND) consortium partners have set up €8 million funding for eight research and demonstration projects in the field of ocean (marine) energy.
These projects will test and validate new technologies for wave, tidal and ocean thermal energy production.
The overall aims of OCEANERA-NET COFUND are to maintain and grow Europe’s position in ocean energy, to help bring innovative low carbon energy solutions closer to commercial deployment, drive down the levelised cost of energy (LCoE), create growth and jobs and reduce the environmental impact of the energy system.
The results of Cofunded Joint Call 2017 – funded by OCEANERA-NET COFUND partners and the European Commission – were publicly announced today by Minister for Energy, Connectivity and the Islands at the Scottish Government, Paul Wheelhouse.
The total grant funding approved for companies and research organisations involved in projects is 7.8 million Euro; 2.6 million Euro will come from the European Union as co-funding with the national and regional funding organisations, which include Scottish Enterprise, the Sustainable Energy Authority of Ireland, the Swedish Energy Agency, Region Pays de la Loire, Region Bretagne and Centro Para el Desarrollo Technologico Industrial (Spain).
The projects are just getting started and over the next three years should develop, test and validate new technologies and approaches which should contribute to lowering the cost of energy and accelerating the commercialisation of the sector.
Out of all the projects, five involve Scottish partners, with total grants of £2.7 million made up of funding from the European Union and Scottish Government.
The eight projects announced can be found here.
The consortium has also announced that it will be running a second joint call for projects, due to open in early 2019.