Blog: Renewable Energy Investment Fund announced
Wave and tidal energy projects are among priorities for the £103 million Renewable Energy Investment Fund (REIF) announced by the First Minster at the Scottish Low Carbon Investment Conference in Edinburgh today. The fund is geared to stimulate greater levels of private finance into innovative renewable energy projects in Scotland, to ensure Scotland remains at the forefront of the renewable energy revolution. A key focus of the REIF will be to support marine energy projects from the single-prototype demonstration stage as are being tested at EMEC to small-scale multi-device arrays around Scotland’s open waters.
This is great news for the marine energy industry, and alongside the Marine Renewables Commercialisation fund which opened for bids earlier this year, shows the vital support from the public sector in ensuring the development of this exciting new industry.
