Europe needs to secure its energy supply by producing homegrown energy, and it needs innovative renewables such as ocean energy to reach that objective. Ocean energy’s predictability makes it very valuable for grid management and will be a great asset to reach an independent, net zero energy system.

The revised Renewable Energy Directive (RED III), adopted in late 2023, laid down the indicative target that 5% of all renewable energy capacity installed in 2030 should be of innovative technology. Extending the innovation target into the 2040 framework is needed to provide market visibility beyond 2030, and pave the way for large-scale deployments of innovative renewables technologies such as ocean energy in Europe.

The upcoming review of the EU Governance Regulation provides a unique opportunity to bolster EU energy & climate governance but could also – under the guise of “simplification” – be the year that the energy & climate law unravels. Ocean Energy Europe joined forces with 8 other associations to send a joint letter to Executive Vice-President Teresa Ribera, Commissioner Dan Jørgensen, and Commissioner Wopke Hoekstra, calling for the Governance Regulation to include this target in the future framework and couple this with EU and national financial instruments to implement the target on a European level.

Read the full letter.