Brexit & EconomyPoliticsMarine energy fund fails to make waves

Marine energy fund fails to make waves

The government’s £50m wave and tidal energy grant scheme fails to attract applicants

The
Marine
Renewables Deployment Fund
has been condemned by business groups as a
failure, after the £50m fund only attracted two applicants – both of which
failed.

Instead of tempting companies to defray part of their costs with taxpayers’
money, ministers made the qualifying conditions too tough, analysts concluded.
It was now likely that companies would shift operations to more supportive
countries, The Times reports.

The failure to offer sufficient incentives was identified in a report on
low-carbon technologies by
EEF, a
manufacturers’ organisation, and the business consultancy Deloitte.

Jane Lodge,
Deloitte
head of UK manufacturing, said the government failed in ‘joined-up thinking’.
‘It is setting targets to reduce emissions but not helping progress on
technology to deliver those targets. In other countries it is much easier to get
grants. It is ridiculous if we are lagging behind in wave technology as an
island nation,’ she said

Read
story in The Times

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