A new finance ‘navigation-map’ for the European ocean energy industry to plot a path to funding for new marine energy project has been delivered to the EU Commission. The EU Commission requested the ‘map’ be drawn up by Ocean Energy Europe – which is holding its annual industry exhibition today in Brussels. The navigation map identifies the challenges facing the sector on its path to commercial readiness and puts forward four solutions to overcome them. However, Scotland will be left ‘map-less’ if it is dragged out of the EU when, or if, the UK implements the result of the referendum vote in favour of British Independence from the EU-bloc – despite having the biggest marine energy raw resource in Europe. The Orkney-based European Marine Energy Centre (EMEC) – which is largely funded by the EU – is a world-player in the sector. But a British Brexit would pull the financial plug from this overnight, leaving the market open to EU-based rivals, such as Ireland’s Sustainable Energy Authority or French Channel ports to exploit.
Scottish Energy News 9th Nov 2016 read more »