European Commission Finances Renewable Energy Projects
The Commission has awarded over €1.2 billion to 23 innovative renewable energy technology (RES) projects. The projects cover a wide range of renewable energy technologies from bioenergy (including advanced biofuels), concentrated solar power and geothermal power to wind power, ocean energy and distributed renewable management (smart grids). The projects will be hosted in 16 EU Member States: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Hungary, Ireland, Italy, the Netherlands, Poland, Portugal, Spain, Sweden and the United Kingdom. The project comprises a floating offshore 26 MW wind farm located 50 km from Marseille. Thirteen wind turbines will be installed on 13 moored floating structures which will transfer power to an onshore substation connected to the grid.
Siemens Ups Stake in Offshore Renewables
British tidal energy company, Marine Current Turbines Ltd, announced that Siemens is increasing its share in the company to 45%. “With this increase in its stake, Siemens is strengthening its activities in ocean power generation. We will actively shape the commercialization process of innovative marine current power plants,” said Michael Axmann, CFO of the newly founded Solar & Hydro Division within Siemens’ Energy Sector. Marine Current Turbines (MCT) has evolved from a pioneer to a technology leader in horizontal axis marine current turbines and now has 25 employees. In February 2010 Siemens acquired a minor stake in the Bristol-based company and thus entered the marine tidal current market. Financial details of today’s announcement are not disclosed.
UK Government Backs Marine Current Turbines Application
An application from Marine Current Turbines, the UK tidal energy developer, to secure money from the European Union’s New Entrant Reserve (NER) scheme has been approved by the UK’s Department of Energy & Climate Change. Marine Current Turbines’ application for its proposed tidal farm in Scotland’s Kyle Rhea will now go forward for consideration by the European Investment Bank. The EU’s NER scheme is a fund worth around EUR4.5 billion to support carbon capture and storage and innovative renewable projects, such as the Kyle Rhea tidal scheme, across the European Union. Marine Current Turbines (MCT) is one of four marine energy companies that have passed the UK Government’s criteria for the NER scheme.
