The Ocean Energy Forum was created by the European Commission in 2014. It provides a meeting place for industry, the public sector and NGOs to discuss how to overcome the barriers to the development of the ocean energy sector and help it on the path to full-scale commercialisation.
The work of the Ocean Energy Forum will result in a Strategic Roadmap for the ocean energy sector, clearly outlining research and investment priorities over the short, medium and long term that are needed for the further development of the sector towards commercialisation.
To help the Forum deliver a Secretariat provide organisational and technical support to the Ocean Energy Forum and its working groups (Technology, Finance and Environment & Consenting).
Stakeholders were invited to this open session of the Ocean Energy Forum in Bilbao on 1 July, to further develop a road map for the commercialisation of the ocean energy sector.
Ocean Energy Forum open session agenda - Bilbao, July 2015
Ocean Energy Forum open session report - Bilbao, July 2015
Ocean Energy Forum open session record - Bilbao, July 2015
Ocean Energy Forum open session synthesis - Bilbao, July 2015
The recent RFP from the French authorities in relation to floating offshore wind provides a real example of quite innovative financing and risk distribution.
Projects may be debt financed on company balance sheets with repayments from future income. Debt carries a Government guarantee.
Clearly, such financing would not be possible in the absence of the Government guarantee as it carries far too much risk. However it does avoid the political criticism associated with straight grants.
Could such a scheme be replicated via the EIB with guarantees provided by the European Commission?