Funding

 

€100.4 million EU structural funds prioritised for marine energy in Wales

Consenting Guidance

 

To assist with the application process for marine licences

More details

Research

 

World class research taking place in Wales

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Funding

Funding on a UK level is now focused on array development to enable commercialisation. The MEAD/MCRF/MESAT and The Crown Estate’s recent investment in the Meygen project are examples. Competitions are often run by organisations such as Innovate UK, the Carbon Trust and the Energy Technologies Institute (ETI). There is also the Green Investment Bank. While there is some overlap in the development stages each funding body covers, they offer support in different ways. So it is worth contacting each funding body to find out which is best for you.

EU Structural Funds

For the period 2014–2020, Wales will receive European Structural Funds investment worth some £2 billion for the following programmes:

  • West Wales and the Valleys programmes
  • East Wales programmes, which include the European Social Fund and European Regional Development Fund.

There are €100,428,444 EU structural funds prioritised for marine energy in Wales, with a maximum intervention rate of 69.43%. These funds are administered by the Welsh European Funding Office (WEFO). The strategic objective is (3.1) Increase the number of wave and tidal energy devices being tested in Welsh waters and off the Welsh coast, including multi-device array deployments, thereby establishing Wales as a centre for marine energy production.

Over the course of the programme the 2014-2020 the target is: MW installed capacity in wave and tidal (DUKES) Target: increase from 7MW to 20MW

For more information click here.

Coastal Communities Fund

The Coastal Communities Fund (CCF) supports the economic development of UK coastal communities by promoting sustainable economic growth and jobs, so that people are better able to respond to the changing economic needs and opportunities of their area. Applicants can apply for anywhere between £50,000 and £300,000 to help bring about these significant changes.

The UK Government announced in 2015 that the CCF will be extended to 2021 with at least £90m of new funding available for the period 2017/18 to 2020/21. Round 4 of the CCF opened to applications in England on 22 May 2016 and in Scotland, Wales and Northern Ireland on 4 July 2016. One further funding round in England, Wales and Northern Ireland is expected to open in 2017. Details regarding future funding in Scotland are still to be advised.

Further information can be found here.

Welsh Government Funding

The Welsh Government has a number of business funding programmes which operate alongside private investment, and which have the potential to fill ‘funding gaps’. Find out more about individual funding programmes in the guides below:

business.wales.gov.uk/finance-funding-support
business.wales.gov.uk/growing-business
business.wales.gov.uk/expanding-wales

Horizon 2020

Horizon 2020 is the biggest EU Research and Innovation programme ever with nearly €80 billion of funding available over 7 years (2014 to 2020) – in addition to the private investment that this money will attract. It promises more breakthroughs, discoveries and world-firsts by taking great ideas from the lab to the market. Despite the transition from the EU, the UK will still be able to participate in Horizon 2020.

For more information click here.