Around half of the world’s wave and tidal energy companies are today based in Europe, and officials believe that the industry could generate up to €653bn by mid-century, with an annual market of €53bn. Ocean Energy Europe is proposing to create a € 250 m investment fund to enable the emerging ocean energy industry to provide a Half of the group’s power by 2050 . A further 250 will be available for insurance, guarantees and loans. The funds are intended to operate as a buffer for companies facing the “valley of death” dividing demonstration projects and the energy sector. Half of all existing wave and tidal energy companies are now based in Europe . Analysts anticipate that the sector could generate €653bn by annual , providing an 2050 market of €53bn.
Ocean Energy Europe is proposing to create a € 250 m investment fund to enable the emerging ocean energy industry to provide a Half of the group’s power by 2050 . A further 250 will be available for insurance, guarantees and loans. The funds are intended to operate as a buffer for companies facing the “valley of death” dividing demonstration projects and the energy sector. Half of all existing wave and tidal energy companies are now based in Europe . Analysts anticipate that the sector could generate €653bn by annual , providing an 2050 market of €53bn.