The government of Portugal has approved the industrial strategy designed to accelerate the development of its ocean renewable energy sector along with the corresponding action plan.
Portugal’s Industrial Strategy for Ocean Renewable Energies (EI-ERO) establishes guidelines for the use of renewable energy obtained through infrastructures installed or to be installed in coastal zones and in the ocean, the government said.
The major strategic objective is the creation of a competitive and innovative industrial export cluster for ocean renewable energies, like floating offshore wind energy and wave energy.
Ocean renewable energies have the potential to supply 25% of Portugal’s annual power consumption, while the sector could generate €254 million in investment, €280 million in gross value added, €119 million in trade and 1,500 new jobs by 2020, the strategy states.
In this context, the government of Portugal based its EI-ERO around two main goals, which are to stimulate export and value added investment and to assist industry in reducing risks.
The strategy also contributes to the realization of Port Tech Clusters which suggests the development of ocean renewable energies could be accelerated by creating synergies with the naval sector which could open access for the industry to the demonstration sites in real operating environments near ports.
When it comes to wave energy, the government of Portugal estimates that there is a potential to install 3-4GW of wave power capacity.
The approach to the wave energy commercialization will be pursued in three stages, with the first involving the development and demonstration of technology by 2022, that will be followed by pre-commercial development between 2023 and 2028.
The third stage will see the technology reach commercial maturity, with significant activity expected to take place from 2030.
The action plan for the implementation of the strategy suggests providing funding for new wave energy R&D projects from technology readiness level (TRL) 1-5 through the Blue Fund, and attracting additional investments with competitive R&D initiatives through Portugal 2020, Blue Fund, EEA Grants, and FCT financing lines.
Portugal’s Ministry of the Sea will be entrusted with responsibility for the coordination and implementation of EI-ERO, in conjunction with the Ministry of the Economy.
Also, a working group composed of public administration entities, representative business associations, companies, R&D centers, universities and renowned specialists, will be established under the coordination of the Ministry of the Sea to monitor the EI-ERO, as well as to propose measures for its implementation.