LONDON - A new 1 billion pound (US$1.73 billion) energy research programme, announced by Finance Minister Gordon Brown this week, wants to bring to market clean energy technologies, Paul Golby, Co-Chair of the Energy Research Partnership, said on Friday.
Energy supply is a hot topic as developed countries including Britain plan to overhaul ageing energy assets.
The development of clean, domestic energy sources such as hydrogen cells and renewables is a priority to counter concerns over the security of fuel imports and the climate-change effects of burning conventional fossil fuels such as coal.
But many such technologies cannot yet compete, and the new 10-year research programme aims to bridge the gap by closely involving industry, which will half-fund the project, said Golby, who is chief executive of power firm E.ON UK as well as co-chair at the ERP, which is driving the initiative.
"There's a whole raft of technologies including fuel cells, marine technologies, that are there in the wings but need more expenditure, research to get to demonstration and deployment."
"It's looking at technologies which ... can bring carbon reductions, cost-effectiveness and energy security."
The programme will most likely invite universities or groups of universities to bid on research contracts, Golby said.
"In that way we can lever all the (financial) resources without creating a bricks-and-mortar institution."
Britain will fund 50 percent of the costs up to a maximum of 500 million pounds over 10 years. Private business will fund the rest, with BP Plc , EDF Energy, E.ON UK and Royal Dutch Shell all already expressing interest.
REUTERS NEWS SERVICE
