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Last Updated:
Oct 5, 2009 - 4:40:37 PM |
State energy agency SEI announces grants of €4.3 millon for 10 Irish companies involved in developing ocean energy technologies
By Finfacts Team
Oct 5, 2009 - 2:46:15 PM
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| Global Energy Network Institute (GENI) ocean energy map.
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State energy agency Sustainable Energy Ireland (SEI), today announced grants with a value of €4.3millon for 10 Irish companies involved in developing ocean energy technologies.
SEI said the funding is aimed at stimulating the development and deployment of ocean energy devices that can generate renewable electricity.
The agency says the funding will enable the companies to take their proposals and prototypes to the next stage of development. Participating companies include Wavebob Ltd and Ocean Energy, who have been trialling their prototype wave energy converters in Galway Bay, and OpenHydro, who are developing a tidal turbine system. Other companies receiving assistance in conducting research and feasibility studies include Technology from Ideas Ltd based in Waterford and the Marine Renewables Industry Association. Individual company grants range from €20,000 to €2 million.
The industry body, Marine Renewables Industry Association (MRIA), says in a white paper that Ireland’s offshore renewable energy resources have significant development potential and are considered among the best in the world. The practicably exploitable wave energy resource is estimated at more than 75% of Ireland’s 2006 electricity demand while our tidal resource also has significant potential. The Government’s Energy White Paper (2007) includes targets of 75MW generated from ocean energy sources by 2012 and 500MW by 2020. MRIA says in order for Ireland to achieve these progressive targets and optimise the socio-economic benefits associated with exploitation of its marine energy resource, it is critical that public and regulatory policy enacts effective delivery mechanisms.
In January 2008 the Minister for Communications, Energy and Natural Resources, Eamonn Ryan TD, announced a major programme of activity, grants and supports to develop ocean energy in Ireland. Over €26 million provided under the Sustainable Environment Sub-Programme of the National Development Plan 2007- 2013 will go to the sector over the next three years.
Professor Owen Lewis, Chief Executive, SEI, said: “The Atlantic ocean provides an untapped source of renewable energy and gives Ireland a unique advantage in the development of ocean energy technology. It is essential that we invest in companies that are seeking to make this technology a reality and help make Ireland a centre for excellence in ocean technology.“
“The Government has set a target of having 500MW of ocean energy connected to the national grid by 2020. SEI’s Ocean Energy Development Unit is working closely with development companies to test their technologies and make them not only operationally but also commercially viable. Today’s commitment takes us a step closer to achieving this aim and developing Ireland as a global leader in this field.”
Welcoming the announcement, James Ives, Chief Executive at tidal technology firm, OpenHydro, said: “We are absolutely delighted to be awarded such a significant grant. The grant will support OpenHydro in the design and development of our next generation 16m Open-Centre Turbine, Subsea Base and Installation Barge.
