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www.sname.org/sname/mt July 2013 for any single company to build, with chal- lenging investment returns for investors. In addition, the risks will be too high with the technology innovation for conventional nancial investment, which is compounded by the bleak worldwide economic situation. us, the U.K. government has recognized that these projects require capital grant sup- port to attract investment. All four of the projects proposed for 2014/2015 are receiving some form of grant support, and are shown in Table 1. In addition, The Crown Estate in the U.K. has oered up to £10 million nance for two projects. The Crown Estate con- trols the seabed in the U.K. and leases it to all marine operations, including aggregate extraction, oshore wind, oil, gas, tidal, and wave projects. e Crown Estate also has run two strate- gic licensing rounds, which have resulted in the issuing of agreements for lease for tidal projects totalling nearly 1,300 MW in U.K. ter- ritorial waters. Some 200 MW of these leases are located in Northern Ireland, and more than 1,000 MW in the Pentland Firth on the northern coast of Scotland. Most of these projects are being progressed on a technol- ogy-neutral basis, with the anticipation that there will be a variety of technologies to choose from when the projects are built from 2017 onwards. Several of the leases are held by major U.K. electrical utilities, including Scottish Power, Scottish and Southern Electricity, and Bord Gais in Ireland. France is also exploring opportunities to develop a tidal industry and exploit their tidal resources in Brittany and Normandy. Both Gaz de France and Electricite de France (EdF) are active in their home French tidal markets. EdF has been developing the Paimpol 10 MW tidal array for several years and should be generating in 2013. e next signicant opportunity could be the Bay of Fundy in Canada. e Fundy Ocean Resource Centre has four tidal test berths for the deployment of demonstration devices. These berths will be occupied by Minas Basin Energy, using Siemens Marine Current Turbines devices; Atlantis Renewable LOCATION OWNER DEVICES GRANT SUPPORT PROJECT STATUS Skerries, WalesSeaGeneration (Wales) Ltd.5 x Siemens MCT SeaGen S 2 MW £10 million from U.K. government as part of the Marine Energy Array Demonstrator program Consents granted in February 2013 Kyle Rhea, Skye, Scotland SeaGeneration (Kyle Rheas) Ltd.4 x Siemens MCT SeaGen S 2 MW £15 million from EC NER300 fund (New Entrants Reserve) Consent decision expected late 2013 Sound of Islay, Scotland Scottish Power Renewables Ltd.10 x 1 MW Andritz Hammerfest £16 million from EC NER300 fund (New Entrants Reserve) Consent decision expected July 2013 Inner Sound, Stroma, Scotland MeyGen Ltd. 3 x 1.4 MW Andritz Hammerfest £10 million from U.K. government Marine Energy Array Demonstrator program Consents granted March 2011 TABLE : MULTIPLE DEVICE ARRAYS TO BE INSTALLED IN THE U.K.