OEE: Time for EU to join drive to create global ocean energy market

The voice of Europe’s ocean renewable energy industry, Ocean Energy Europe (OEE), has applauded the UK government’s decision to ringfence £20 million a year for tidal stream energy, calling the EU to step up for ocean energy as well.

Ringfencing £20 million (€23.7 million) per year for tidal stream energy in contracts for difference (CfD) revenue support programme for renewables, the UK will promote the deployment of at least 34MW of tidal energy in the coming years, according to OEE.

OEE is the largest network of ocean energy professionals in the world representing the interests of Europe’s ocean energy sector, with 120 organisations, including Europe’s leading utilities, industrialists and research institutes on board.

“It is fantastic to see the UK seize the opportunity of a new home-grown renewable energy industry. The UK government has rightly identified the many benefits of ocean energy, like clockwork predictability, grid balancing for variable wind and solar, and local economic development.

“This move confirms what industry has long been saying – ‘per MWh’ revenue support schemes can rapidly scale up innovative renewables to industrial scale”, said Rémi Gruet, CEO of OEE.

According to Gruet, it is now time for the EU to implement its 2020 Strategy on Offshore Renewable Energy and join the drive to create a global ocean energy market.

“The review of the Renewable Energy Directive is the perfect opportunity to deliver on the strategy. A specific target for innovative renewables would ensure that not only cheap wind and solar get built, but also complementary and early-stage technologies such as tidal and wave energy”, Gruet concluded.