Ente Vasco de la Energía (EVE), the Basque energy agency, has allocated €500,000 for projects in the marine renewable energy sector for this year.
EVE is providing a total of €10 million for improving energy efficiency, and renewable energy in 2016 in its annual aid programme.
The projects in renewable energy sector were granted a combined budget of €1.7 million, expected to support up to 170 new projects, out of which €500,000 are destined for marine renewables.
The deadline for submitting project applications is set for October 31, 2016, or until the budget allocated to this effect has been exhausted.
Basque energy strategy targets 14% contribution of renewable energy to total energy demand by 2020.
The total funding allocated by the Basque government for demonstration and validation of emerging marine energy technologies amounts to €2.5 million for the 2016-2018 period.
The financial support for marine energy sector will not exceed €500,000 for this year, and will amount to €1 million for 2017 and 2018 each, EVE informed.