Page 54 - European Energy Innovation - summer 2018 publication

54 Summer 2018 European Energy Innovation

OCEAN ENERGY

Building an ocean energy industry
a European success story

By Rémi Gruet, CEO, Ocean Energy Europe
Ocean energy is steadily marching towards industrialisation in Europe, with major milestones
achieved in the last 12 months. Recognising the pan-European opportunity, the EU has
championed the sector. Visibility on volumes and prices are now needed to set the industry on
a cost reduction pathway, and ultimately compete with established renewables such as
offshore wind.

STEADY MARCH TOWARDS hours in March 2018. In April 2018, Europe’s electricity needs. That’s as
INDUSTRIALISATION its owner, Atlantis Resources, much as electricity as wind energy
Just off the northern tip of Scotland, announced that the turbines have produced in the EU last year.
four 24m-tall turbines sit on the been approved for production for the
seabed, quietly producing electricity next 25 years. Europe will need new sources of
from the predictable turning of the clean energy in the coming decades
tides. To date, the Meygen tidal farm Further north, the Shetland Tidal to keep up with demand. This is
has generated over 6 gigawatt hours Array is replacing emission-heavy driven by mega-trends like the
of electricity, including 1.4 gigawatt diesel generation and preparing for roll-out of electric vehicles, electric
further build-out with the support heating, and the retirement of
of Horizon 2020. In France, Naval old power plants. The European
Energies will soon complete the Commission forecasts a 1% annual
world’s first tidal turbine factory in increase in electricity demand from
Cherbourg, capable for delivering 25- 2020-2050 - the reality is likely to be
50 turbines per year. much more dramatic. Like it’s older
brother wind, ocean energy can be
These major success stories are ramped up fast and help meet this
proof that ocean renewable energy increase. It is thus key to the EU’s
continues its steady march towards future electricity mix.
industrialisation in Europe. We are
building a new industry from the But on the 21st century electricity
ground up. grid, it’s not just about how much
electricity you can produce, it’s
EUROPE NEEDS OCEAN ENERGY also about when you can produce
Ocean energy can be a mainstream it. In this regard, ocean energy is a
provider of electricity. Our seas and clear winner: Tides determined by
coastlines boast some of the most the moon thousands of years in
powerful wave and tidal resource in advance make it highly predictable.
the world - an untapped wealth of Waves follow the wind, and remain
energy. And it will be needed to fully strong three hours after the wind
decarbonise the power sector, and has stopped blowing. Ocean thermal
meet the EU’s commitments under energy conversion (OTEC) and salinity
the Paris Agreement. gradient power generate energy 24/7.

The industry plans to build 100GW Building ocean energy projects will
of production capacity in Europe greatly add to overall stability of the
by 2050: enough to meet 10% of electricity grid.

www.europeanenergyinnovation.eu