April 25 (Bloomberg) -- Scotland set up a 15 million-pound ($23 million) fund to develop foundations that will support wind turbines in deep waters in a bid to cut the technology’s costs.
The Scottish Innovative Foundation Technologies Fund seeks to encourage development of prototypes for use in water more than 30 meters (98 feet) deep, the government said today in an e-mailed statement that invited applications for funding.
Foundation structures account for about 16 percent of total offshore wind project costs and innovation in the field could drive a 9 percent saving, according to the statement. Scotland, seeking to get all its power from renewables by the end of the decade from more than third in 2011, has about a quarter of the European Union’s offshore wind resources, the government said.
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