Business and Investment
Funding and grants
Marine Renewables Deployment Fund
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In January this year we published our proposals for the allocation of a new £50 million ‘Marine Renewables Deployment Fund’ that will support the continued development of the marine renewables sector. At the core of those proposals is a ‘Wave and Tidal Stream Energy Demonstration Scheme’ on which we invited stakeholders to comment.
The Scheme below incorporates changes that have been made to the originally proposed Scheme as a result of comments received, which we considered carefully. We have taken the opportunity to publish the finalised Scheme now in view of the clear consensus from stakeholders that this needed to be finalised quickly. We will provide a more detailed narrative shortly, which will provide an explanation of changes made to the Scheme in response to comments and also give a clearer understanding of the way in which the Scheme will operate.
The Scheme will now be notified to the European Commission and therefore any commencement date for the Scheme is subject to securing State Aids approval by the European Commission
