Marine energy funding round opens   21 Sep 2010

New Zealand Government

Marine energy funding round opens

The final of four funding rounds of the Marine Energy Deployment Fund has opened for applications, Energy and Resources Minister Gerry Brownlee announced today.

“The fund has been successful in stimulating interest and investment in testing the potential for marine energy in New Zealand,” Mr Brownlee said.

“New Zealand has a world-class wave and tidal energy resource, which will provide us with another form of renewable energy in the future.”

The funding is provided to applicants that can demonstrate the capability to deploy wave and tidal stream energy devices in New Zealand. A total amount of $880,000 is available.

The successful applicant or applicants will need to meet a number of criteria, including a strong likelihood of their technology being commissioned.

More information is available at: www.eeca.govt.nz/marine-energy-fund

The closing date for applications is Monday 29 November 2010.

Background What is the MEDF? The Marine Energy Deployment Fund is a four year fund established in October 2007, for the development of emerging wave and tidal marine technologies.

What projects have been funded through the MEDF?

• Crest Energy received funding from round one for up to three tidal stream turbines to be located in the Kaipara Harbour.

• Wave-Energy Technology New Zealand (WET-NZ) received funding from round two for a pre-commercial, half-scale wave energy device. This has received resource consent to be located in Taranaki.

• Chatham Islands Marine Energy Ltd (CHIME) received funding in round three for a wave energy technology project on the south west coast of the Chatham Islands. This has received resource consent.

Why is the government funding marine energy projects?

The waves and tides in New Zealand's coastal environment are a world-class resource for marine energy generation, with an estimated potential of more than 7,000 megawatts. Marine energy projects are under development here and overseas, and marine energy is likely to play an important role in New Zealand’s future energy mix.

ENDS

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