Press release: European Commission market study calls for feed in tariffs to support ocean energy industrial opportunity

02.07.2018

28 June 2018. Ocean Energy Europe applauds the publication of a new European Commission “Market Study on Ocean Energy”. The study gives an exceptionally accurate and argumented analysis of what is needed to fulfil the sector’s rapid growth prospects.

 

It supports the establishment of a European investment platform for ocean energy, in line with the recommendations of the Ocean Energy Roadmap. Yet it states clearly that feed in tariffs or other forms of revenue support will be essential to drive ocean energy technologies down the road to market.

Commenting on the publication, Ocean Energy Europe CEO, Rémi Gruet, said: “This study puts figures on how great an economic opportunity ocean energy represents for Europe: €2.6bn already invested in the EU, 75% of it by private companies; 3.9GW of projects by 2030, representing €9.4bn of investments…’’

Gruet added: “The EU has been a great supporter of ocean energy in the last years, politically and financially. Yet revenue support at a national level is essential for any emerging energy technology to make it to market. It is now up to governments in countries such as France and the UK to reap the benefits of a new industrial sector.”

The final report is available here.