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.
The European Union is proposing to create a €250m investment fund to enable the emerging ocean energy industry to provide a tenth of the group’s power by 2050. A further €70m 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 the middle of the century, providing an annual market of €53bn.