OceanEnergyKeytrendsandstatistics2021March202223DISCLAIMERThispublicationcontainsinformationcollectedonaregularbasisthroughouttheyearandthenverifiedwithrelevantmembersoftheindustryaheadofpublication.NeitherOceanEnergyEurope,noritsmembers,northeirrelatedentitiesare,bymeansofthispublication,renderingprofessionaladviceorservices.NeitherOceanEnergyEuropenoritsmembersshallberesponsibleforanylosswhatsoeversustainedbyanypersonwhoreliesonthispublication.TEXTANDANALYSIS:RémiCollombetEDITORS:AmyParsons,RémiGruetDESIGN:JQ&ROSVisualCommunicationsCOVERPHOTO:CourtesyofMoceanEnergy-ColinKeldieTableofcontentsKeyfindings................................................................................................................4Europe:Theoceanenergyindustrybouncesback...................................6Globalperspective..................................................................................................13Projectspotlight.....................................................................................................162021oceanenergyhighlights............................................................................18Newindustryandinvestmentmilestonesin2021......................................20Newsupportmechanismsfordemonstrationprojects...........................232022outlook:Sustainedgrowthahead.........................................................24Tidalstream:Installedcapacityjumpsbacktopre-pandemiclevels.......................................6Waveenergy:Deploymentsontheriseagain.....................................................................10KeyfindingsEuropeTheoceanenergyindustrybouncesbackTIDALSTREAMTIDALSTREAM1MW1.1MW11.5MW68GWhInstalledcapacityjumpsbacktopre-pandemiclevelsDeploymentsontheriseagainSteadygrowthforbothtidalandwavearoundtheworldAnewsteptowardsindustrialisationofcapacityisslatedforinstallation.Tidalenergyhitsiscurrentlyinthewater.powerproductionmilestone.RestofWorld2022outlook2021MilestonesWAVEENERGYWAVEENERGYWAVEENERGYTIDALSTREAM1.4MW30.2MW12.7MWinstalledinEuropesince2010.installedinEuropesince2010.iscurrentlyinthewater.CUMULATIVEINSTALLATIONSCUMULATIVEINSTALLATIONSAtenfoldincreaseon2020'scapacityadditions.2.2MW681kWcapacityadded.Athreefoldincreasedespitepandemic-relateddelays.capacityadded.2021INSTALLATIONS2021INSTALLATIONSEUROPEEUROPEOUTSIDEOFEUROPEOUTSIDEOFEUROPE€70Mattractedinprivateandpublicinvestments.Australiadeploysitsfirstutility-scalewavedevice.ofcapacityisslatedforinstallation.ofcapacityisslatedforinstallation.ofcapacityisslatedforinstallation.1.4MW2.8MWWAVEENERGYTIDALSTREAMGlobaltotalsince2010TIDALSTREAM39.6MWCUMULATIVEINSTALLATIONS24.7MWCUMULATIVEINSTALLATIONS3,120kW2021INSTALLATIONS1,385kW2021INSTALLATIONSWAVEENERGYNewEuropeanturbinesinstalledinLargeEuropeanOEMsjoinedtheoceanenergymarket.EuropeandeveloperssecurenewexportprojectsinIndonesiaandtheCaribbean.NewsupportmechanismsfordemonstrationprojectsTheUKlaunchesnewrenewableenergyauctionswithdedicatedsupportfortidalstream.Spainlaunchesoffshorerenewablesroadmap.TheUSAmakesitslargestpublicinvestmentinoceanenergytodate.AUSTRALIACANADAJAPAN67AnnualCumulativeCumulativecapacityadditions(kW)Annualcapacityadditions(kW)05,00010,00015,00020,00025,00030,00035,00020102011201220132014201520162017201820192020202101,0002,0003,0004,0005,0006,0007,0008,0009,00010,000AnnualCumulativeCumulativenumberofturbinesAnnualnumberofturbines010203040506070800246810121416201020112012201320142015201620172018201920202021Europe:TheoceanenergyindustrybouncesbackTIDALSTREAM:Installedcapacityjumpsbacktopre-pandemiclevelsFigure1:AnnualandcumulativetidalstreamcapacityinEuropeTenfoldincreaseincapacityadditionsAnnualinstallations–2.2MWofnewtidalstreamcapacitywasdeployedinEuropein2021,upfrom260kWin2020.Thistenfoldincreasewasexpected,asseveralprojectspostponedfrom2020wentaheadin2021.Thenextmajorcapacityincreaseintidalstreamisnowexpectedaround2025,withanewgenerationoftidalarraysinthepipeline.Source:OceanEnergyEuropeEUROPETIDALSTREAMNewdesignsThreedevicesweredeployedinEuropein2021aspartofdemonstrationprojects.Thesedevicesareagoodexampleofthevariousapproachesanddesignsadoptedbydeveloperstoconquerthetidalmarket.•WithitsO2machine,ScottishOrbitalMarinePowerwentforafloatinghorizontal-axisturbinedesign,withlowO&Mcosts.Thecompanyisfocussingonhigh-capacitydevices,aimedatthemainstream,utility-scalemarket.•The100kWprototypeinstalledthisyearbySwedishdeveloperMinestoistheseconditerationofitsinnovativemodel.Thecompanyiscurrentlytargetingislandmarketsandoceancurrentswithitstidalkites.•Water2Energyhasdesignedandinstalledaverticalaxisturbinethatcanextractpowerfromtidalcurrentsaroundlocks,docksanddams.ThedeveloperistakingadvantageoftheNetherlands'specifictidalresourceandinfrastructure,creatingatechnologytailoredtofunctioninexistingcoastalstructures.Cumulativeinstallations–30.2MWoftidalstreamtechnologyhasbeendeployedinEuropesince2010.Ofthis,11.5MWiscurrentlyoperating,and18.7MWhasbeendecommissionedasprojectssuccessfullycompletetheirtestingprogrammes.Ontopofthesenewdevices,theMagallanesATIRplatformwasalsore-deployed,bumpinguptheoperatingcapacityfigurefor2021.Figure2:AnnualandcumulativetidalturbineinstallationsinEuropeSource:OceanEnergyEuropeDespitelockdownsandworldwidesupplychaindisruptions,theoceanenergysectorhitseveralsignificantmilestonesin2021andinstallationsreboundedafteradipin2020.NewdevicesweredeployedalongtheAtlantic,theNorthSeaandtheMediterranean,severalexcitingnewprojectswereannounced,whilepoliticalsupportandinvestmentsalsoincreased.89Figure3:Europeantidalstreamdeploymentsin2021SeveralnewinstallationsaroundtheNorthSeaMinestoaddedanothertidalkitetoitsfirstcommercialprojectintheFaroeIslands.Supportedbythelocalenergyutility,thissuccessfuldeploymentandtheextensionofMinesto’sPPAshowsthestrongcommitmentoftheFaroeIslandstodevelopandintegratetidalstreamaspartoftheirenergymix.TheO2installationinScotlandwasmainlydrivenbyEuropeanfundingprogrammes.Buildingonitshistoricalleadershipandqualityinfrastructure,ScotlandremainsthemostadvancedEuropeanhubfortestinganddemonstrationofoceanenergytechnologies.Boostedbytheemergenceofnewerdevelopers,theDutchmarketisalsobecomingmoreactiveasseveraltidaldeveloperswillbedeployingdevicesinthecomingyears.Source:OceanEnergyEuropeTidalenergyhits68GWhmilestonein2021Electricityproductionfromtidalfarmsanddemonstrationprojectsslowedslightlylastyear.ThiswasmainlyduetosomeextendedmaintenanceworkonthefirstgenerationofEuropeantidalfarms,5yearsaftertheirstartofoperations.Ledbythe‘flagship’Meygen,EnFAITandOosterscheldearrays,alongwithnewdeployments,theEuropeantidalstreamsectorexportedcloseto8GWhlastyear–enoughtopoweraround2,000households.Newgenerationunits-suchasOrbitalMarinePower’sO2andMinesto’sDeepGreenkites-weredeployedandtestedinthesecondhalfof2021andelectricityproductionfromthesedevicesisexpectedtoincreaseinthecomingmonths.CountryMapref.LocationDevicedeveloperDevicenameTypeCapacitydevice(kW)NumberofturbinesFAROEISLANDS1VestmannasundMinestoDG100Kite1001UK(SCOTLAND)2OrkneyOrbitalMarinePowerO2HorizontalAxis20001THENETHERLANDS3PortofDenHelderWater2EnergyVAWTVerticalAxis1001UK(SCOTLAND)4OrkneyMagallanesRenovables1ATIRHorizontalAxis15001mapEUROPETIDALSTREAMEUROPETIDALSTREAM1243Cumulative0102030405060702003200520072009201120132015201720192021CumulativeMWhProducedFigure4:CumulativeMWhproducedbytidalstreaminEuropeSource:OfgemRenewablesandCHPRegister,publicreleasesfromdevelopers,informationsuppliedtoOEEbydevelopers1RedeploymentoftheMagallanesRenovablesATIRplatformpreviouslytestedatEMECin2019–nowratedat1.5MW10WAVEENERGY:DeploymentsontheriseagainFigure5:AnnualandcumulativewaveenergycapacityinEuropeNewcapacityadditionsdespitepandemic-relateddelaysAnnualinstallations–681kWofwaveenergywasinstalledinEuropein2021,withcapacityadditionstriplingcomparedto2020.Thisisanimpressivefeat,astheglobalpandemicstillseverelyimpactedmanufacturing,supplychainsanddeploymentwindows.Source:OceanEnergyEuropeCumulativeinstallations–12.7MWofwaveenergyhasbeeninstalledinEuropesince2010.1.4MWiscurrentlyinthewaterand11.3MWhasbeendecommissionedfollowingthesuccessfulcompletionoftestingprogrammes.EUROPEWAVEENERGYEUROPEWAVEENERGYCumulativecapacityadditions(kW)Annualcapacityadditions(kW)AnnualCumulative02,0004,0006,0008,00010,00012,00014,00020102011201220132014201520162017201820192020202105001,0001,5002,0002,500AnnualCumulativeCumulativeWECdeploymentsAnnualWECdeployments0204060801001201401600102030405060201020112012201320142015201620172018201920202021EuroperemainsattheepicentreofwaveenergydeploymentsFivedevicesweredeployedinEuropein2021,includinganumberofsub-scaledevices,signallingahealthyR&Denvironment.The2021cohortshowedonceagainadiversityofdesigns–fourdifferenttypesoftechnologiesacrossfivedeployments.Thisispartlyduetothewidevarietyofwaveresourcestargetedbydevelopers,e.g.,bothstrongandmildwaveclimates,nearshoreandoffshoreetc.Figure6:Annualandcumulativewaveenergyconverter(WEC)deploymentsinEuropeSource:OceanEnergyEuropePhoto:Havkraft1112Figure7:Europeanwaveenergydeploymentsin2021NewdeploymentsinmostEuropeanseabasinsScotland,theNetherlandsandtheIberianPeninsulaarebecominghotspotsforwaveenergydevelopment,withseveralinstallationsin2021andmoreplannedinthecomingyears.Thiscanmainlybeexplainedbyincreasingpoliticalsupportintheregion,andsubstantialpublicfundingaimedatprogressingthetechnology.Supportfortestinginreal-seaconditionsdrovethemajorityofdeploymentsthisyearandshouldcontinuedoingsountil2025.Source:OceanEnergyEuropeEUROPEWAVEENERGYCountryMapref.LocationDevicedeveloperDevicenameTypeCapacitydevice(kW)NumberofturbinesScaleNORWAY1HaddalHavkraftHWECOscillatingwatercolumn30101:10UK(SCOTLAND)2OrkneyMOCEANBlueXAttenuator10101:10THENETHERLANDS3PortofDenHelderSlowMillSlowMillPointabsorber40101:10CYPRUS4LarnacaBaySWELWLMAttenuator1.41?SPAIN5BayofBiscayWelloOyPenguin2Rotatingmass6001123154TIDALSTREAM:CanadaandJapanleadcapacityadditionsoutsideEuropeNewEuropeanturbinesinstalledinCanadaandJapanEuropeandeveloperscontinuedtodriveglobaltidalenergyinstallationsin2021.•ThreeEuropean-ledpilotfarmsareprogressingwellinNovaScotia,withnewgrantsandindustrialpartnersannounced.SustainableMarineisthemostadvancedofthetrio,withthefirstofits420kWfloatingtidaldevicesdeployedin2021.•Meanwhile,ScottishtidalenergydeveloperSIMECAtlantisEnergyalsomadeheadlinesbymanufacturingandinstallinga500kWtidalturbineinJapan’sNaruStrait.Globalperspective39.6MWoftidalstreamand24.7MWofwaveenergyhavebeendeployedgloballysince2010.TheoceanenergyindustryweatheredtheCovid-19stormanddeploymentsarenowbackontrackdespiteglobalsupply-chaindisruptions.Canada,ChinaandtheUSAremainthemainoceanenergymarketsoutsideofEuropein2021,withstablepublicsupportmechanisms.TheUSAsignificantlyincreasedgrantinvestmentsintothesector,reachingUS$200m(€193m)inasingleyear.Beyondthesedeployments,significantadditionsalsotookplaceinAustralia,JapanandChile.Photo:SustainableMarine1315Figure8:InstalledglobaltidalstreamenergycapacitySource:OceanEnergyEuropeSource:OceanEnergyEuropeCountryDevicedeveloperDevicenameTypeCapacitydevice(kW)NumberofturbinesCANADASustainableMarinePlat-IHorizontalaxis4206JAPANSIMECAtlantisAR500Horizontalaxis5001GLOBALWAVEENERGYCumulativecapacityadditions(kW)Annualcapacityadditions(kW)Annual-EuropeAnnual-RestoftheworldCumulative-EuropeCumulative-Restoftheworld05,00010,00015,00020,00025,00030,00035,00001,0002,0003,0004,0005,0006,0007,0008,0009,00010,000201020112012201320142015201620172018201920202021Figure9:TidalstreaminstallationsoutsideEuropein2021GLOBALTIDALSTREAMFivedeviceswereinstalledbeyondEurope,ofwhichfourwerefull-scaleprototypes.AustralianWaveSwellEnergydeployedalargeoscillatingwatercolumndevice,aimedatutilitymarkets,whileitsChineseandAmericancounterpartsfocussedmoreonnichemarkets,suchaspoweringoffshoreobservationdevices.InternationalwaveenergyprojectswerestillseverelyimpactedbytheCovid-19pandemic.Severalfull-scaledeploymentsweredelayedandnowareexpectedin2022inChinaandtheUSA.Figure10:InstalledglobalwaveenergycapacitySource:OceanEnergyEuropeSource:OceanEnergyEuropeCountryDeviceDeveloperDevicenameTypeCapacity(kW)NumberofdevicesAUSTRALIAWaveSwellEnergyUniwaveOWC2001CHILEOPTPB3Pointabsorber31CHINAHangzhouHugeWaveEnergyTechnologyUnknownPointabsorber0.31USACalwaveX1PointabsorberUnknown1CHINAGIECChangshanAttenuator5001Cumulativecapacityadditions(kW)Annualcapacityadditions(kW)Annual-EuropeAnnual-RestoftheworldCumulative-EuropeCumulative-Restoftheworld02,0004,0006,0008,00010,00012,00014,00005001,0001,5002,0002,5003,000201020112012201320142015201620172018201920202021Figure11:WaveenergydeploymentsbeyondEuropein2021WAVEENERGY:Severalfull-scaleinstallationsaroundtheglobePhoto:SIMECAtlantisEnergy14ORBITALMARINEPOWERDeployingtheworld’slargesttidalturbineWELLOOYAnewgenerationoffull-scalewaveenergyconverterOrbitalMarinePower’sO2startedgeneratinggrid-connectedpowerattheEuropeanMarineEnergyCentreinOrkneythisyear.Thefloating2MWturbineisconnectedtothelocalonshoreelectricitynetwork.TheO2isexpectedtooperateinOrkney’sfast-flowingwatersforthenext15years,producingenoughclean,predictablepowertomeettheannualelectricitydemandofaround2,000UKhomes.Wello’ssecond-generation,full-scalewaveenergyconverterhasbeendeployedattheBiscayMarineEnergyPlatform(BiMEP)inSpain.The600kWdevicewillundergotestsandtrialsinreal-worldoceanconditionsfortwoyears,duringwhichWelloisaimingtoachievefullvalidationofitswaveenergyconversiontechnology.1617ProjectspotlightPhoto:OrbitalMarinePowerMINESTOAddingasecondtidalkiteintheFaroeIslandsSwedishtidaltechnologydeveloperMinestoachievedasignificantmilestonethisyearbydeployingasecond100kWdevice.ThismakestheVestmannasundprojectthefourthEuropeantidalarraycurrentlyinoperation.Basedonthestrongperformanceofthispilotproject,MinestohassecuredanextensionofitsPPAintheFaroeIslandsandbegananindustrialpartnershipwithSchneiderElectric.Photo:MinestoSIMECATLANTISENERGY(SAE)EnteringtheJapanesemarketInJanuary,ScottishtidaldeveloperSAEinstalleda500kWtidalturbineintheStraitsofNaruIslandinJapan.Sincethen,theturbinehaspassedtheJapanesegovernment’spre-useinspectiontestsandhasbeenrecognisedasanofficialpowergenerationfacility.AsofDecember2021,ithadgenerated247MWh.Photo:SIMECAtlantisEnergyPhoto:WelloOySLOWMILLTestinganewwavedeviceintheNorthSeaSlowMillcommissioneda40kWwaveenergyconverteratthePortofDenHelderin2021.ThecompanydesignedtheirdeviceforthemoderatewaveclimateoftheNorthSeaandisnowfocussingonscalingupthetechnology.Eachfull-scalewaveenergyconverterisprojectedtoberatedat400kW.Photo:SlowMillMOCEANENERGYFirstreal-seatestforWaveEnergyScotlandwinnerScottishwaveenergydeveloperMoceanEnergy,deployedits1:10scaleprototype,theBlueX,atEMEC’sfromJunetoNovember.Thedevicecompleted154daysatsea,deliveringsteadyoutputsofupto5kWandpeaksof30kW,operatinginseastatesofupto2.3metres’maximumwaveheight.ThedemonstrationoftheBlueXhasbeenfundedbyWaveEnergyScotlandandsupportedbyInterregNorth-WestEurope’sOceanDEMOproject.Photo:MoceanEnergyAUGUSTDPEnergysignsajointdevelopmentagreementwithJapaneseutilityandshippingcompanyforthefirstphaseofa9MWtidalprojectinNovaScotia,Canada.FinnishwaveenergycompanyWellodeploysits600kWPenguinwaveenergydeviceattheBiMEPtestsiteintheBasqueCountry.DutchwaveenergydeveloperSlowMillinstallstheir8-metre40kWtestmodel.NovaInnovationgets£2m(€2.5m)fromtheScottishgovernmentfortheirVOLT(VOlumeManufacturingandLogisticsforTidalEnergy)project.OCTOBERCalWavesuccessfullycommissionsitswaveenergypilotinCalifornia.SãoToméandPríncipe’sgovernmentannouncesitsplanstodeployfirstOTECpowerplant.oceanenergyhighlights2021FrenchmarineenergycompanyHydroQuestunveilsplanstodevelopa17.5MWtidalenergyfarmattheRazBlanchardsite.SwedishtidalenergydeveloperMinestohassecuredSEK161.6m(€15.9m)inproceedsforitscommercialexpansion.StartoftheEUSCORESproject,aimingtobuildco-locatedarraysincludingawave-windenergyprojectinPortugal.SEPTEMBERSWELdeploysitswaveenergyconverterfortestinginCyprus.DECEMBEROrbitalMarinePowersecuresastrategicinvestmentfromTechnipFMC,whichwillalsobecomeashareholder.NovaInnovationreceives€2.5mfromtheEIC,€940kfromtheUKGovand€2.4mfromcrowdfunding,andannouncesa7MWprojectinIndonesia.Seabasedsignstheleasefora40MWwaveenergyparkintheBermudas.UKlaunchesContractforDifferenceroundwithdedicatedsupportfortidalstream.NOVEMBERCorpowerOceanbuildstheworld’slargestwaveenergytestriginSweden.OrbitalMarinePowerannouncesplanstodeploy15MWofftheIsleofWight,UK.SimplyBlueGroupannouncesplansforafloatingwind&wavefarmofftheIrishcoast.Minestoaddsanother100kWtidalkitetoFaroeIslandsfarmandannouncespartnershipwithSchneiderElectrics.Havkraftinstallsa30kWwave-poweredbreakwaterinNorway.QEDNavalraisesover£1m(€1.2m)frommorethan1,200investorsinacrowdfundingcampaign.MARCHSustainableMarineunveilsitsnew420kWPLAT-Itidalenergyplatform,tobetestedinCanada.CorPowerOceansecuresprivateinvestmentof€9m,bringingtotalequityfundingofitstheflagshipHiWave-5projecttoover€20m.DanishdeveloperWavepistonclosesitscrowdfundingcampaign,raisingover€2.4m.NovaInnovationannounces3MWprojecttopowerwhiskydistilleries.FEBRUARYSIMECAtlantisEnergydeploysa500kWtidalprojectinJapan.SwedishdeveloperCorPowerOceanbringsin€7.3mforPortuguesewaveproject.FrenchdeveloperSabellatakesovertidalenergyassetsfromGERenewableEnergy,whichinturnbecomesanequitypartnerinthecompany.WaveSwellEnergydeploys200kWwavedeviceoffTasmania,Australia.JANUARYScottishOrbitalMarinePowersuccessfullylaunchesits2MW‘O2’tidalturbine.OPTdeploysa3kWwavedevice,thePB3PowerBuoy,forEnelGreenPowerinChile.SpanishdeveloperMagallanesredeploysits1.5MW‘ATIR’tidalenergyplatformatEMEC.Ownersgivea€4.4mcommercialisationboosttoMinesto’stidalactivities.French-basedSweetchEnergysecures€5.2mtodevelopitsfirstfull-scaleosmoticpowerprototype.APRILEcoWavePowersignsMoUfora9MWprojectinBrazil.Seabasedannouncesplansfora10MWpilotfarminFrance.JUNEMAYEcoWavePowergetspermitfor1MWwaveprojectinPortugal,winsacontractwiththeIsraeliNavyandcollectsUS$9m(€8.1m)inIPOproceeds.SIMECAtlantis’MeyGentidalarrayhasexportedover37GWhofcleanpowertotheUKgridsinceitsdeployment.JULYDealsstruckwithlargeindustrialpartnerstodevelopoceanenergyMINESTO&SCHNEIDERELECTRICSwedishtidalenergydeveloperMinestoandSchneiderElectricsignedaMemorandumofUnderstandingtodevelopandbuildoceanenergyfarmsbasedonMinesto’sDeepGreentidalkitetechnology.Thecollaborationaimsatacceleratingthecommercialroll-outofoceanenergywherepredictablerenewableenergyproductionisnecessary.DPENERGY&CHUBUELECTRICPOWERCOMPANY&KAWASAKIKISENKAISHAIrishrenewableenergyprojectdeveloperDPEnergyenteredintoaJointDevelopmentAgreement(JDA)withChubuElectricPowerCompany(Chubu)andKawasakiKisenKaisha(“K”LINE)todevelopthefirstphaseofa9MWtidalprojectintheBayofFundy,NovaScotia.ORBITALMARINEPOWER&TECHNIPFMCScottishtidalenergydeveloperOrbitalMarinePowersecuredastrategicinvestmentfromTechnipFMC,whichwillalsobecomeashareholderinthecompany.ThecompanieshavealsosignedanMoUtojointlycollaborateintidalenergytoacceleratetheglobalcommercialisationofOrbital’stechnologyanddeliverthefirstcommercialscalefloatingtidalfarm.SABELLA&GENERALELECTRICFrenchtidalenergydeveloperSabellahastakenoverthetidalenergyassetsofGERenewableEnergy,whichinturnbecameanequitypartnerinthecompany.Theassettake-overagreementcoversalltidalenergyconceptsdevelopedbyGERenewableEnergysince2003,includingassetsinheritedthroughacquisitions(TGL,RollsRoyceandAlstom),aswellastheOCEADEtrademark.Thetechnologyconsistsofseveraltidalturbines,whichhaveproduced1.6GWhofcleanpowerinthepast.Newindustryandinvestmentmilestonesin2021Oceanenergyattractedpublicandprivateinvestorsalikein2021:announcedinvestmentstotalled€70million2in2021.This50%increaseon2020clearlyshowsthegrowingappealofoceanenergyforinvestorsasthenextbigopportunityinrenewableenergy.Investmentinoceanenergyincreasesby50%in20212021MILESTONES20MINESTOSWEETCHENERGYECOWAVEPOWERCORPOWERSeveraltidalandwaveenergycompaniesconvincednewinvestorstojointhemontheirjourney:2021showedyetagaintheincreasingappealofcrowdfundingtoraiseequityforoceanenergydevelopers.Morethan17successfulcampaignshavebeenlaunchedinthepastfouryears.Somehighlightsfrom2021include:•DanishcompanyWavepistonsuccessfullyraisedover€2.4millionforitswaveenergytechnologyandprojects.•WelshmarineenergydeveloperMarinePowerSystems(MPS)exceededits£4million(€4.8million)crowdfundingtarget.2Publiclyannouncedinvestments(capitalraise,crowdfunding,andpublicinvestmentsatnationallevel)SwedishtidalenergypioneerMinestosecuredmorethanFrench-basedosmoticpowerpioneerSweetchEnergyreceivedSwedishwaveenergydeveloperCorPowersecuredPortugueseauthoritieshavejoinedtheSwedishEnergyAgency,EITInnoEnergyandprivateinvestorstofinanciallysupportCorPowerOcean’sflagshipHiWave-5demonstrationprojectinnorthernPortugal.EcoWavePowerhascloseditsunderwritteninitialpublicoffering(IPO)onNasdaq,collectinginproceedstodevelopitsfirstfull-scaleosmoticpowerprototypeingrossproceedsforitsPortuguesewaveproject€20MUS$9.2M(€8.1M)€5.2M€16.3M2122NOVAINNOVATIONNovaInnovationannouncedplansfora7MWtidalarrayinLarantukaStrait,Indonesia.LarantukaStraitliesbetweentheislandsofFloresandAdonaraandhasoneofthestrongesttidalcurrentsinIndonesia.ThearraywillutiliseNova’snext-generation100kWtidalturbines.SEABASEDSwedishwaveenergycompanySeabasedhassignedaleaseagreementwiththeGovernmentofBermudafortheconstructionof40MWwaveenergypark.ThedeploymentareaislocatedafewkilometresoffshorefromBermuda’sairportonSt.George’sIsland.Aspartoftheproject,SeabasedhasbeenworkingwithstakeholdersinBermudaandisfinalisinganEnvironmentalImpactReport(EIA).GLOBALOTECThegovernmentofSãoToméandPríncipehasannouncedpartnershipwiththeUK-basedGlobalOTECResourcesforthedeploymentofthefirstcommercialfloatingoceanthermalenergyconversion(OTEC)platform.Theprojectisapublic-privatepartnershipbetweenGlobalOTECandSIDSDOCK–theSmallIslandDevelopingStates(SIDS)SustainableEnergyandClimateResilienceOrganisation–aUnitedNations-recognisedassociationrepresentingsmallislanddevelopingstates.Europeandevelopersexpandreachwithexportprojects2021MILESTONESPhoto:NovaInnovationEurope:RevenuesupportandroadmapsUNITEDKINGDOMTheBritishgovernmentlaunchedanewContractsforDifference(CfD)roundwith£20million(€24million)peryeardedicatedtosupporttidalstreamprojects.Thisrepresentsthebiggestinvestmentintidalpowerinagenerationandcouldbring30to60MWonline.FRANCETheFrenchgovernmentlaunchedanewmechanismallowinginnovativerenewableenergyprojectdeveloperstonegotiaterevenuesupportonabilateralbasiswiththeFrenchenergyregulator.SPAINTheSpanishGovernmentlaunchedanewmarinerenewablesroadmap.Thedocumentcontainsadeploymenttargetof60MWby2030forpre-commercialmarineenergiessuchaswaveortidalenergy.Spainwillalsospendatleast€200millionby2023ontheadvancementanddevelopmentofoffshorerenewableenergytechnologies.ITALYIn2021,eachEuropeanMemberStatepresenteditsRecoveryandResiliencePlantomitigatetheeconomicimpactofthepandemicandinvestintheecologicalanddigitaltransitions.Italy’srecoveryplanincludesabudgetof€700millionforthedevelopmentofinnovativerenewableenergytechnologies.Waveenergyisexplicitlymentioned.RestofWorld:AmericangovernmentboostsfundingUSATheUSAisslowlypositioningitselfastheEU’smaincompetitorinoceanenergy,significantlyrampinguppublicinvestmentsintothesector.In2021alone,thegovernmentadopted:•NewappropriationstotheU.S.DepartmentofEnergy2021totallingUS$109million(€96million)forthedevelopmentofoceanenergy;•The2021BipartisanInfrastructureBilldedicatingUS$70.4million(€62million)toMarineEnergyRD&D;andUS$40million(€35million)forthedevelopmentofNationalMarineEnergyCenters.NewsupportunveiledfordemoprojectsBeyondindustrialachievements,majorpiecesoflegislationsupportingthedevelopmentofoceanenergywereadoptedaroundtheworld.2021POLICYSUPPORT23242022outlook:SustainedgrowthaheadEuropeUpto2.8MWofwaveenergycapacityislinedupfordeployment,thebulkofwhichwillcomefromfull-scaledevices.MostofthesedeploymentswilloccurintheUK,SpainandPortugal.Fournewfull-scaledevices-madebyCorpowerOcean,EniSpA,BomboraandWavepiston-shouldhitEuropeanwatersin2022.InternationalOutsideEurope,installationscouldadd1.1MWofwaveenergycapacitytotheglobaltotal.Severaldevicesareexpectedtobedeployed:intheUSA,OscillaPower’sTritonCandinChina,GIEC’ssecondfull-scaledevice.WAVEENERGY:Full-scaledevicestodominateTIDALSTREAM:ExpandingpilotfarmsanddeployingnewprototypesEuropeDeploymentsaresettocontinueatasteadypacein2022.Atleast1.4MWofcapacityisslatedforin-stallation.Whiletotalinstalledcapacitymightbelowerthanin2022,moredevicesshouldbedeployednextyear.Followingtheprecedentsetbydeploymentsin2021,mostnewdeviceswillfindahomeinBritishandDutchwaters.InternationalOutsideofEurope,installationsin2021couldaddatleast1MWoftidalenergycapacity.CanadawillleaddeploymentswiththeprogressofNovaScotia’spilotfarms,whileChinaissettoinstallatleastonedevice.2021OUTLOOKPhoto:Wavepiston25Wanttogointomoredetail?DidyouknowthatOceanEnergyEuropememberscanrequestinformationfromour‘Kit-in-the-Water’databaseaboutprojectsdeployedaroundtheworld?ContactusnowtofindoutmoreaboutthisandthemanyotherbenefitsofOEEmembership!NataliaEcheverriMembership,Marketing&SalesManagern.echeverri@oceanenergy.eu+3224001040Rued´Arlon631040Brussels+32(0)24001040info@oceanenergy.euAboutOceanEnergyEuropeOceanEnergyEurope(OEE)isthelargestnetworkofoceanenergyprofessionalsintheworld.Ourmissionistocreateastrongenvironmentforthedevelopmentofoceanenergy,improveaccesstofunding,andenhancebusinessopportunitiesforourmembers.Over120organisations,includingEurope’sleadingutilities,industrialistsandresearchinstitutes,trustOEEtorepresenttheinterestsofEurope’soceanenergysector.Ifyou’reactiveintheoceanenergysector,wecanhelpyourbusinessgrow.Asanot-for-profitorganisation,everyeuroinvestedinOEEisusedtopromotetheEuropeanoceanenergyindustry.OceanEnergyEurope´sLeadPartnerswww.oceanenergy.eu