Amongst the variety of renewable sources, marine energy still accounts for the smallest portion of renewable energy electricity globally despite its great potential. This can be explained by the existence of four main obstacles to marine energy development: finance and markets, grid infrastructure, technology development as well as environmental and administrative issues.
In North-West Europe, the industry is of strategic importance as the region is a global leader in the development of marine energy technologies, such as wave energy, tidal current and range. However, these emerging technologies still need targeted incentives to have their potential fully unlocked.
The sector has the potential to directly support the achievement of Europe’s renewable energy and greenhouse gas reduction targets and also to boost economic growth and create jobs. Therefore, the Interreg NWE Programme has already invested over 40 M EUR in six groundbreaking projects that tackle these challenges and unlock the potential of marine energy in the region. Our projects will not only bring new technologies to the market, but also support local SMEs and stimulate strong policies for the sector.