Vella welcomes strategic ocean energy roadmap
2016-11-14 15:43:28   copyfrom:    hits:

The Ocean Energy Forum handed over to Commissioner Vella the results from its strategic roadmap; Building Ocean E

 

 
The Ocean Energy Forum handed over to Commissioner Vella the results from its strategic roadmap; Building Ocean Energy for Europe

The Ocean Energy Forum handed over to Commissioner Vella the results from its strategic roadmap; Building Ocean Energy for Europe

Commissioner Vella has welcomed the Ocean Energy Forum results from 18 months’ worth of work on the future of ocean energy in Europe.

Its strategic roadmap: Building Ocean Energy for Europe, headlines the recommendation that a €250m investment package and a €70m insurance fund is needed to attract investors and offset risk.

Commissioner Vella said: "Ocean energy is not just good news for our climate. It's also great news for job creation. We are speaking about a potential global market of up to €53bn a year. Thanks to today's roadmap, we have a convincing path for investors to follow.”

The report sets out a viable strategy which would see 10% of Europe's electricity delivered by wave and tidal energy by the year 2050.

Ocean energy contribute to the EU's objective of reaching at least 27% of renewable energy by 2030 and reducing greenhouse gas emissions by 80-95% by 2050.

The roadmap identifies priority areas for for technological progress, concentrating on improving the technology's performance and reducing the costs related to installation and logistics services.

It predicted that based on current developments and pans, the sector is expected to move to the pre-industrial phase by the mid-2020s.

The Commission is now expected to closely study the roadmap's recommendations, and will promote the roadmap in its talks with Member States, financial institutions, and the research and business community.

- See more at: http://www.worldfishing.net/news101/industry-news/vella-welcomes-strategic-ocean-energy-roadmap#sthash.669QqGQm.dpuf

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