Europe Leading Blue Energy
The proposal focuses on establishing an alliance among European leading regions in Blue Energy (both ocean energy and floating offshore wind) to promote cross-regional value chains, develop a joint internationalization strategy and define a roadmap that helps positioning European SMEs worldwide in these emerging markets.
Blue Energy is key in addressing one of the EU’s biggest challenges; an energy transition to a flexible and interconnected system based on renewable resources. In fact, under favourable regulatory and economic conditions, Blue Energy could meet 10% of the European Union’s (EU) power demand by 2050.
Supported by ambitious R&D and industrial development policies, European Blue Energy sector is a world leader today, home to the most advanced technology so far. This advantage, and the need to stay close to the resource to reduce costs, ensures that manufacturing remains mainly local and involves a unique opportunity for European SMEs.
As an exceptional opportunity to create a new industrial sector, generating jobs in its regions throughout the local supply chain, Europe needs continued support to Blue Energy to take advantage of a global market, worth a potential €653bn between 2010 and 2050. The successful development of a competitive European Blue Energy industry would also place it in a prime position to seize export opportunities in the global market.
As a key recent milestone, in November 2016, the Ocean Energy Forum, created by the European Commission, delivered its Strategic Roadmap after over two-years’ work by main incumbents. While the Roadmap identifies the path to follow on developing innovative technologies and facing financial risks, additional measures are adequate to improve synergies among cross-sectoral and cross-regional companies and to position the European industry in key global markets. This is precisely the main objective of this proposal.