An EU-funded project has launched that aims to produce quantifiable information to show the benefits associated with integrating ocean energy in low carbon energy systems across the regions of north west Europe.
Aquatera is leading the Economic Value of Ocean Energy (Evolve) project, which also includes WavEC, CorPower and Edinburgh University, and is an EU Ocean Era-Net Cofund collaboration.
As Europe looks to renewable technology as part of a green post-Covid recovery and achieving carbon neutrality by 2050, the ability to demonstrate the value of ocean energy is becoming more crucial, said the partners.
The outcome of Evolve has the potential to boost not just the ocean energy industry, but also associated industries within the Blue Economy, the Evolve consortium stated.
Aquatera is a consultancy and has worked on over 300 marine energy studies and will be applying its Radmapp model to the project.
WavEC provides engineering services, and research, development, and innovation support in the marine renewable energy sector.
Rise and the University of Edinburgh have research experience in energy systems modelling.
Orbital Marine Power and CorPower Ocean bring tidal and wave technology demonstration experience respectively.
Continued engagement throughout the project will ensure that the results produced are relevant and useful to a wide range of stakeholders including technology and project developers, regulators, policy makers, electricity system operators and project investors.
Aquatera managing director Gareth Davies said: “We are delighted to be participating in this project which will for the first time link the distribution of ocean energy resources and energy markets on a place, time and value basis.
“The team we have put together includes some of the most experienced participants in the ocean energy sector and has the capacity to deliver a ground-breaking analysis framework that will clearly signal the best pathways and locations for ocean energy in the future.”