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Thursday, October 21, 2021

Scottish projects in line for European funding

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The UK's Department for Energy and Climate Change has shortlisted seven Scottish projects for European Investment Bank (EIB) funding worth £3.9 billion.

The eventual awards, part of the European Union’s new entrant reserve programme, will be decided after a nine month process. The EIB will select up to three projects to receive financial backing.

The Scottish projects include carbon capture and storage projects at Hunterston in Ayrshire, Peterhead and at Longannet in Clackmannanshire.

Renewable projects in Scotland included the Hammerfest Strom tidal turnbine in the Sound of Islay and the Kyle Rhea Tidal Turbine Array off the coast of Islay.

The MeyGen Tidal Stream Project and the Pentland Orkney Wave Energy Resource (POWER) scheme in the Pentland Firth.

The seven Scottish projects are shortlisted along with another five renewable energy projects from around the UK.

Source: Scottish Development International

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