The ocean energy sector has progressed towards commercialisation in 2023 as 137 MW of European tidal and wave energy projects are set to seek deployment in the next five years, not-for-profit organisation Ocean Energy Europe said on Tuesday as it unveiled its.
The pipeline is underpinned by EU funding and national revenue support and includes 127 MW of tidal projects and 10 MW of wave energy. Within tidal stream, 94 MW are expected to be added in Scotland and Wales thanks to the UK government's contract for difference (CfD) AR4 and AR5 rounds. A grant and revenue support packages by the French government will secure the country's first pre-commercial farm, the 17.5-MW FloWatt project, while EU grant funding unlocked 14 MW of new tidal farms, Ocean Energy Europe’s report says.
Remi Gruet, CEO of Ocean Energy Europe, underscored the importance of national revenue support for project bankability and investor confidence. “Coupled with EU-level investment support – still needed for pilot and pre-commercial projects – it is kick-starting the industrialisation of the sector,” Gruet added.
“The CfD ringfence for tidal in the UK needs to be maintained, and the commercial calls for tidal energy announced by President Macron now need to be enacted,” the organisation’s CEO continued and called for revenue support for wave, especially in Portugal, Spain and Ireland.
In terms of installations, four tidal stream devices were deployed in Europe last year, representing 280 kW of new capacity. Since 2010, 30.5 MW of tidal stream technology have been deployed in Europe, of which 11.75 MW are now operating and 18.75 MW have been decommissioned after testing.
Annual wave installations rose to 595 kW in 2023 from 46 kW in 2022. Since 2010, Europe’s wave deployments total 13.3 MW, of which 12.3 MW have been decommissioned after the end of testing and demonstration programmes.
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