Introduction
The Marine Renewables Proving Fund aims to accelerate the leading and most promising marine devices towards the point where they can qualify for the Governments existing Marine Renewables Deployment Fund (MRDF) support scheme and, ultimately, be deployed at a commercial scale under the standard Renewables Obligation. The scheme will lead to faster progress in the marine energy sector and lower risk investment propositions for the private sector - driving the industry towards large scale deployment. This new £22.5m initiative is designed and managed by the Carbon Trust and uses new funding provided by the Department of Energy and Climate Change (DECC). Up to £6m is available to successful applicants to help meet the capital costs of building and deploying wave and tidal stream prototypes. The MRPF will provide up to 60% of the eligible project costs, with the rest to be matched by technology developers and their partners.
Scope of projects that are included in this programme
Technology developers with well progressed concepts looking to deploy full scale prototypes in 2010 or 2011 are the primary target for this scheme. Where funds allow, our secondary priority is the support of technologies which have “frozen” design concepts and a proven track record looking to progress rapidly towards MRDF and full scale deployment. Work programmes must be completed by 31 March 2011, and be scheduled for deployment in UK waters. This scheme will support the most promising wave and tidal devices through the final design stage, construction, deployment and commissioning of full scale prototypes with the aim to getting the most mature projects to the point where they can qualify for MRDF support.
Please note that the call for applications has now closed.