At a ceremony in Edinburgh Castle, the details were revealed to an audience of leading scientists, environmentalists and potential entrants after being finalised by a panel of international experts who comprise the Saltire Prize Challenge Committee.
Dr Anne Glover, Scotland's Chief Scientific Adviser and Chair of the Challenge Committee, said the Saltire Prize will be awarded to the team that can demonstrate in Scottish waters a commercially viable wave or tidal energy technology that achieves a minimum electrical output of 100GWh over a continuous two year period using only the power of the sea and is judged to be the best overall technology after consideration of cost, environmental sustainability and safety.
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She added: "Scotland has an outstanding history in science, engineering and technology and continues to excel. It is natural that we set an inspirational challenge to the world. The Saltire Prize challenge aims to accelerate the rate at which wave and tidal technologies can deliver power output that will represent real commercial opportunity. And make a meaningful contribution to Scotland's ambitious renewable energy and carbon emissions targets."
First Minister Alex Salmond said: "The Saltire Prize has the potential to unlock Scotland's vast marine energy wealth, putting our nation at the very forefront of the battle against climate change, to make a lasting and decisive difference to our planet.
"The Saltire Prize Challenge Committee has tasked the world's leading scientists and innovators to design, build and test a renewable marine energy device, in Scottish waters, which is capable of powering thousands upon thousands of households. Scotland has one quarter of Europe's tidal power potential; the Pentland Firth is our Saudi Arabia of renewable marine energy."
The Scottish Government announced earlier this year that it was to offer the largest ever single prize for innovation in marine renewable energy in a bid to galvanise world scientists to push the frontiers of innovation in the crucial area of clean, green energy.
The Challenge Committee is made up of 11 leading figures in science and innovation with expertise in world leading and potentially planet-saving technology.
(GK/JM)
