EU states call for marine funding

The UK’s Energy Minister has represented the UK on behalf of several European governments calling for more financial backing to get marine energy off the ground and into the water. […]

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By Tom Gibson

The UK’s Energy Minister has represented the UK on behalf of several European governments calling for more financial backing to get marine energy off the ground and into the water. The EU member states published a report that says without backing Europe’s marine revolution could stall.

Charles Hendry said: “There is an abundant energy resource in European waters and there is a clear appetite from individual states to make the most of it.

“Here in the UK we have set out ambitious plans to be a world leader in marine energy and get projects off the drawing board and into the water. And more international cooperation can help bring marine energy forward faster, develop supply chains, and support jobs.”

The UK joined Denmark, France, Ireland, Norway, Portugal and Spain, Belgium and the Netherlands in backing a paper that states marine energy could:
– employ up to 26,000 people directly across the European Union in 2020, rising as high as 314,000 by 2050;
– satisfy up to 15% of EU energy demand by 2050;
– generate over €450m of investment by 2050.