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IRENA and Ocean Energy Europe partner
Image courtesy of Minesto.
Oceans hold abundant, largely untapped renewable energy potential that could drive a vigorous global blue economy.
IRENA and Ocean Energy Europe partner to drive ocean energy industry
THE CEO OF OCEAN ENERGY EUROPE (OEE) RÉMI GRUET AND THE DIRECTOR-GENERAL OF THE INTERNATIONAL RENEWABLE ENERGY AGENCY (IRENA) FRANCESCO LA CAMERA RECENTLY SIGNED A MEMORANDUM OF UNDERSTANDING (MOU) AT THE ANNUAL OCEAN ENERGY EUROPE CONFERENCE & EXHIBITION. THE PARTNERSHIP WILL DEEPEN EXISTING COOPERATION TO ACCELERATE THE COMMERCIALISATION OF OCEAN ENERGY TECHNOLOGIES, BY PROMOTING THE RIGHT POLICY INCENTIVES AND INNOVATIVE BUSINESS MODELS IN EUROPE AND GLOBALLY.
Oceans hold abundant, largely untapped renewable energy potental that could drive a vigorous global blue economy, as two new studies released by IRENA show. ‘Fostering a blue economy: Ofshore renewable energy’ and the Agency’s ‘Innovaton outlook: Ocean energy technologies’ fnd that, in additon to providing mainstream power generaton, a blue economy driven by ofshore renewables will bring major benefts to Small Island Developing States (SIDS) and opportunites for a green recovery from COVID-19.
coastal communites. Ocean energy can not only help to decarbonise power generaton, provide afordable and reliable access to electricity, help countries to fulfl Paris Agreement pledges, and contribute to global climate acton. Ofshore renewables can also help meet energy needs for shipping, cooling, and water desalinaton, laying the foundaton for a broad-based blue economy and industry. They create jobs, improve health, strengthen people’s livelihoods, and foster wider socioeconomic
Global in scale
Mr La Camera says, “Renewable energy from oceans has the potental to meet four tmes the global electricity demand of today, foster a blue economy, and bring socioeconomic benefts to some of the most vulnerable areas to climate change such as SIDS and coastal areas. Close cooperaton with OEE in platorms like IRENA’s
Collaboratve Framework and Coaliton for Acton is absolutely vital to share knowledge with industry to ensure a widespread deployment of ocean and ofshore renewables in the future.” Mr Gruet adds, “We have enjoyed a fruitul collaboraton between OEE and IRENA for some tme, and I am delighted to formalise it now. Europe is a world-leader in the development of ocean energy, but the massive potental of these technologies is unarguably global in scale. Working on joint initatves and exchanging informaton with IRENA will strengthen the advancement of these technologies on the internatonal stage.”
10GW by 2030
Today, ocean energy globally accounts for approximately 530MW of installed generaton capacity. Tidal stream and wave projects currently under constructon may add another 3GW of installed capacity short-term within the next fve years, most of it in Europe (55%), Asia-Pacifc (28%), and the Middle East and Africa (13%). However, with the right incentves and regulatory frameworks in place, IRENA foresees the potental growth of ocean energy up to 10GW of installed capacity by 2030 worldwide. Following the steps of wind power and solar PV, innovatve ofshore renewables have seen huge cost reductons in recent years. Tidal and wave energy already ofer a viable alternatve for remote diesel-powered island territories with high electricity costs. As economies of scale push costs down even further, these technologies will become afordable optons alongside mature renewable energy sources. Strong R&I programmes, revenue support, and regional co-operaton in marine spatal planning are now needed to bring these technologies to the commercial stage.
Image courtesy of IRENA.
Today’s ocean energy deployment (MW).
Image courtesy of IRENA.
i. irena.org i. oceanenergy-europe.eu
Image courtesy of IRENA.
