A four person penal would scrutinize the case of two marine energy projects looking for funds through the third stage of the Marine Energy Deployment Fund set up in 2008 by the Energy Efficiency and Conservation Society. EECA has already received applications for the third round, a spokesman of the body informed in November.

The $8 million fund, to be allocated in four rounds, is aimed to address the needs of industry to deploy generating devices and up gradation work. Crest Energy had already received $1.85 million in the first round for developing its tidal stream project in the Kaipara Harbour. Power Projects and Industrial Research has received $760,000 for its WET-NZ project in the second round.

The successful parties would be announced in April 2010. Gerry Brownlee, the Energy and Resources Minister said that the funding is aimed to further strengthen the prospectus of tidal and wave technology of the country.

Mr. Brownlee said, "This country has enormous potential to create renewable electricity generation from its oceans. It's vital we have the right mix of people on board with the vision to help new projects get off the ground and capitalize on our natural resources."