New insurance fund to accelerate ocean energy’s roll-out
The design of a brand-new European insurance fund for the ocean energy sector is underway, to slash the costs of the first commercial projects and accelerate the roll-out of this exciting new industry. Ocean Energy Europe (OEE) has appointed risk and insurance consultancy, Renewable Risk Advisers (Renewable Risk), to carry out the work as part of the EU-funded OceanSET project.
> Download: OceanSET Newsletter #3
> Download: OceanSET Newsletter #2
A webinar was held on 7 May in close collaboration with ETIP Ocean. It provided an update on the ocean energy sector, based on recent information on costs, technologies, revenue support and other facts across European countries as presented in the first annual report produced by the OceanSET project.
> Download the slides: Slides of the OceanSET / ETIP Ocean webinar – 7 May 2020
> Download the Q&A session document: Webinar Q&A session
Release of the H2020 OceanSET project 1st annual report: an overview and analysis of progress in the ocean energy sector
This first OceanSET annual report provides an overview of progress in the ocean energy sector in 2018. Key findings from the annual data collection are presented below:
• 6 Member States out of 11 have an ocean energy policy.
• Ocean Energy received €26.3M funding from Member States in 2018.
• 90 ocean energy projects were funded by Member States in 2018, 2/3 of which concern wave energy devices.
• 12 ocean energy projects operational in 2018 were identified as TRL 7 or above.
• 3 Member States consented wave or tidal projects in 2018.
• Test sites enabling demonstration can be found in almost all of the Member States.
• The supply chain in most Member States is considered robust.
> Download: 200505_press_release_oceanset_final
A summary of the key findings of the first year of the project is available in the form of infographic. In three slides, you will have the essential information to remember.
> Download the slides: Infographic of 1st annual report – April 2020
> Donwload: OceanSET Newsletter #1
This leaflet givew a breif overview of the OceanSET project, whith a focus on the objectives.
> Download: OceanSET leaflet
A €1 million H2020 project to support ocean energy implementation in line with the European Strategic Energy Technology Plan (SET Plan)
The European Strategic Energy Technology Plan (SET Plan) aims to accelerate the development and deployment of low-carbon technologies. It seeks to improve new technologies and bring down costs by coordinating national research efforts and helping to finance projects. In this framework, the SET Implementation Plan (SET Plan IP) for ocean energy was adopted on 21 March 2018. The target timescale regarding actions listed within this plan is 2025 for tidal technologies and 2030 for wave technologies. To provide support to ocean energy implementation in line with the SET Plan, the OceanSET project was launched in March 2019. It is a 3-year EU H2020 project with a total budget of €1 million that gathers together 9 partners. The OceanSET project will help to obtain a solid understanding of the current activities across Europe regarding ocean energy in order to determine how the sector will evolve.
> Download: 190701_press_release_oceanset_final