50m investment in wave and tidal power
The secretary of state for trade and industry, Patricia Hewitt, this week announced an extra £50m is to be invested in the development of wave and tidal power technologies.
The new Marine Research Development Fund is hoped to speed up the commercial deployment of tidal power so the UK is less reliant on wind power to meet its target of producing 10% of electricity from renewable sources by 2010.
Announcing the fund, Hewitt said: "The UK's wave and tidal flows are the greatest in Europe and I want to ensure we harness these immense natural resources to generate power for the UK.
"Renewable energy, through wind, wave and other sources, plays a vital part in our fight against climate change, and we are committed to further developing renewable energy to play an increasing role in the UK's energy mix. Today's announcement reflects that vision and puts us firmly on the path to becoming the world leader in renewable energy."
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