EU plans €320m funding boost for budding ocean energy industry
by Arthur Neslen in Brussels from on (#20YMN)
Investment fund would help wave and tidal power to provide a tenth of the bloc's power by 2050
The EU is proposing to spend hundreds of millions of euros to help the budding ocean energy industry to provide a tenth of the bloc's power by 2050.
The boost would take the form of a a250m investment fund, with an additional a70m set aside for insurance, loans and guarantees, according to the roadmap for channelling the potential of wave and tidal energy.
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