Scotland’s Energy Minister Fergus Ewing has announced that an Edinburgh-based company has secured £1.85 million from European investors to fund green energy projects in Scotland.
Nova Innovation and green energy company ELSA from Belgium have teamed up to build the Shetland Tidal Array, five 100kW tidal turbines in the Bluemull Sound site that will power the equivalent of 300 homes. The array will be developed in two phases with commissioning of the first three devices by the end of 2015.
Scottish Enterprise is supporting Nova Innovation with £1.9 million of grant and loan funding for the project and to help accelerate the company’s growth of new projects across Europe.
Nova Innovation will travel to the European Parliament in Brussels next week to showcase its renewables ambitions and seek further backing to support its future plans. The news comes weeks after Nova Innovation announced the successful deployment of the world’s first community owned tidal turbine in Shetland.
Mr Ewing said:
“ELSA’s decision to invest in Scotland is a testament to the confidence felt by international investors to help develop the huge wave and tidal energy resources from the waters around the Scottish coast. The Scottish Government and its agencies will do everything we can to ensure Scotland benefits from the significant economic opportunities the renewables industry presents.'
Seonaid Vass, director of renewables & low carbon technologies at Scottish Enterprise, added:
“Scotland is leading the world when it comes to innovation in wave & tidal energies - and Nova's continued success is a real testament to the strengths in the sector.
“Seeing this tidal technology developed into in-sea tidal arrays is a significant step forward for the industry, and we will be working closely with the company to continue to support its work in this and other potential projects."
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