Ocean Energy Europe applauds UK’s vote of confidence in tidal stream

25.11.2021

Ocean Energy Europe applauds the UK government’s decision to ringfence £20m (€23.7m) per year for tidal stream energy in its ‘Contracts for Difference’ revenue support programme for renewables. This single decision will promote the deployment of at least 34MW of tidal energy in the coming years.

Rémi Gruet, CEO of Ocean Energy Europe, commented: “It is fantastic to see the UK seize the opportunity of a new home-grown renewable energy industry. The UK Government has rightly identified the many benefits of ocean energy, e.g. clockwork predictability, grid balancing for variable wind and solar, and local economic development. This move confirms what industry has long been saying – ‘per MWh’ revenue support schemes can rapidly scale up innovative renewables to industrial scale.

It is now time for the European Union to implement its 2020 Strategy on Offshore Renewable Energy and join the drive to create a global ocean energy market. The review of the Renewable Energy Directive is the perfect opportunity to deliver on the Strategy. A specific target for innovative renewables would ensure that not only cheap wind and solar get built, but also complementary and early-stage technologies such as tidal and wave energy.”