EU is pivotal to ocean energy

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The European Union’s assembly of regional and local representatives has adopted a report underlining the need to support wave and tidal energy to meet its future energy needs.

The Commission for the Environment, Climate Change and Energy of the Committee of the Regions’ (CoR’s) report notes ocean energy could generate 100GW by 2050, equivalent to 10-15% of EU power demand.

CoR said coordinated actions between the different layers of governance in the EU is essential, including a pivotal role for the European Commission, the European Investment Bank and the European Parliament and other EU institutions.

The report calls for the establishment of EU level targets for ocean energy as a clear statement of intent.

CoR’s report also calls upon the EIB and the Commission to prioritise use of the new European Fund for Strategic Investment to support investments in the ocean energy sector, including looking at how this fund can be used to support grid development and connectivity.

In addition, the report supports the Commission’s Ocean Energy Forum initiative, assigned to draft an industry roadmap by September. The final roadmap will be presented to European ministers during a summit on ocean energy taking place in Dublin on 20 October.

“This report is particularly timely and correctly identifies the key actions for Europe to maintain its global dominance and benefit from the growth of ocean energy around the world”, said Remi Gruet, chief executive officer of trade body Ocean Energy Europe.

“With the resource anchored at regional level, ocean energy developments will mean fresh economic activity for existing port infrastructures and maritime supply chains,” he added.

Source: reNews