Scotland’s First Minister Alex Salmond is set to announce the launch of a $165m fund devoted to renewable energy.

The initial focus of the Renewable Energy Investment Fund (REIF) will focus on wave and tidal energy as well as renewable district heating. The Scottish government also hopes to attract more private investment to the sector.

Alex Salmond

Niall Stuart, chief executive of trade body Scottish Renewables, said: “Scotland is already at the forefront of developing and testing emerging wave and tidal technologies and, with the correct level of government support, we can become a global centre of excellence in both the deployment of these technologies and their accompanying supply chains.”

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