The government of the United Kingdom gas announced that, it is going to invest 20 million pounds every year in the Tidal Stream electricity as a part of the flagship renewable energy auction scheme of the UK government, along with starting a brand-new chapter for the tidal industry and also creating the jobs across the United Kingdom.
This announcement of the UK government is going to be unlocking the potential for a thriving power sector of the country, along with the boost in the cash for providing support to the marine technologies that can possibly benefit the whole of the United Kingdom.
As being a part of the fourth round of the allocation of the Contracts for Difference Scheme, that is scheduled to open in the coming month, the government of the United Kingdom is also going to make sure that, the 20 million pounds per year are going to be used for the projects of Tidal Stream, which will be giving the marine energy industry a chance for developing the technology along with decreasing the costs in a way similar to the offshore wind energy industry of the United Kingdom. This strategy is going to be responsible to bring a total funding for the allocation to around 285 million pounds per year.
The tidal energy is having the potential for being a very reliable source of the power generation, and including this in the low-carbon energy mix of the United Kingdom is going to be making it easier for the UK government for matching the supply with the demand.
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