Carnegie Welcomes EC Report on Importance of Ocean Energy

Carnegie Wave Energy Limited has welcomed the adoption of a draft report by the European Commission for the Environment, Climate Change and Energy of the Committee of the Regions (CoR) confirming the important contribution the ocean energy sector will make to the future energy needs of the European Union.

By providing a reliable and predictable renewable energy source, ocean energy has the potential to contribute to energy security goals and help reduce intermittency of energy supply, as well as creating jobs and intellectual capital, and economic growth. The sector is also expected to provide specific skills enhancement in engineering, testing, manufacturing, transportation, installation, operation and maintenance of ocean energy facilities and port facilities.

The report references the European Ocean Energy Roadmap (EOER) 2010-2050 which estimates that by 2050, ocean energy could meet up to 15% or approximately 100GW (100,000 megawatts) of European Union (EU) power demand in 2050, powering some 115 million homes.

The roadmap also recognises the potential of ocean energy to supply the EU’s many islands, stating that “harnessing this energy could contribute to the energy autonomy of islands and of
peripheral maritime regions”.

“With 100GW of installed capacity by 2050, the ocean energy industry can make a major contribution to Europe’s energy security and decarbonisation goals. This report is particularly timely and identifies the key actions for Europe to benefit from the growth of ocean energy around the world”, said Rémi Gruet, CEO Ocean Energy Europe.

Carnegie’s European Business Development Director and Ocean Energy Europe Board Member, Kieran O’Brien, said, “Carnegie welcomes this report from the Committee of the Regions, and recognises the strong leadership Europe’s regions have played in driving the sector forward. We look forward to that support continuing.”

The report also supports the European Commission’s Ocean Energy Forum initiative, assigned to draft an industry roadmap by September this year. The final roadmap will be presented to European Ministers during a summit on ocean energy taking place in Dublin, on 20 October 2015.