The UK£8M (US$15.2M) Marine Energy Fund is available to developers to provide up to 40% capital costs and additional revenue support up to 100% eligible costs, to support projects deploying devices from the European Marine Energy Centre (EMEC) in Orkney, Scotland.
Speaking at the Great Wall China Renewable Energy Conference in Beijing, China, Scotland's Deputy First Minister, Nicol Stephen, said: 'This new fund - which complements the enhanced green credits soon to be available for marine generation - will give a real boost to the young marine generation sector.
'As well as helping Scotland reach and surpass our renewable energy targets, Scottish expertise and technology can help other countries reach theirs,' Stephen added.
The window for applications extends for the next four weeks and successful projects will be deployed within the next 18 months.
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