Oct 25 - Datamonitor

The Scottish Executive has opened a GBP8 million fund to support marine energy projects in Scottish waters and bolster the country's strong position in renewable energy production.

The fund has been opened to support projects at the European Marine Energy Centre (EMEC) in Orkney, and is expected to provide a major boost to the developing marine generation sector.

The marine energy fund was first announced in May. A total of GBP8 million is available to developers to provide up to 40% capital costs and additional revenue support up to 100% eligible costs, to support projects deploying devices at the EMEC.

The window for applications extends for the next four weeks and successful projects will be deployed within the next 18 months.

Deputy first minister Nicol Stephen announced the opening of the fund scheme at a major renewable energy convention in Beijing, China, where a number of Scottish energy companies have been exhibiting their technology in China for the first time.

China is the world's second largest consumer of energy and its government has set a target to supply 10% of energy (60GW) from renewables by 2010 and 120GW by 2020.

Mr Stephen told the international audience, "Scottish companies have the skills and the industrial expertise to help meet China's renewables ambitions."

"In Scotland we have a number of first class renewable energy projects underway," he continued. "But there is far more to renewable energy than wind farms. Scotland has 25% of Europe's tidal power potential. And we have wave power technology that is a world first...I am determined to continue to build momentum in marine energy."