April 29, 2008 The Scottish Government has offered the world’s biggest ever cash prize for innovation in the field of renewable marine-based energy.

help bolster Scotland’s own clean energy sector which already accounts for 16% of the nation’s generated electricity

$20 million (£10 million) to the person or team who demonstrates innovation in marine renewable energy technology and is deployed in Scotland

The Scottish Government hopes their prize will lead to similar if not better innovations and further advance renewable energy technology

The potential for renewable energy in Scotland is considerable. They have the potential to generate 25% of Europe’s wind energy, 25% of Europe’s tidal power and 10% of Europe’s wave power

This prize is meant to kickstart Scotland’s marine renewable energy program and help meet their target of generating 50% of their electricity demand from renewable energy by 2020