Wave and tidal energy installations in markets that include the UK, Spain and China in 2020 have taken global cumulative capacity to 60MW, according to new figures from Ocean Energy Europe.
The industrialisation of the sector is “gathering pace”, with project investments of over €45m in 2020, export contracts for European developers, and new factories and research labs, the group said.
A “strong pipeline” of projects in 2021 means that Europe looks set to maintain its leadership position, with 6MW of wave and tidal energy slated for deployment this year.
The European tidal sector passed the 60 gigawatt-hour cumulative electricity production milestone in December suggesting installed projects are producing power steadily and reliably even with reduced access and maintenance possibilities, resulting from Covid-19 restrictions.
The EU announced specific targets for ocean energy in its new offshore renewables strategy, including 100MW by 2025.
The US and China have also earmarked substantial funding for the technology’s development, Ocean Energy Europe stated.
Ocean Energy Europe CEO Remi Gruet said: “Echoing the resilience seen in wind and solar, the ocean energy sector has fared well in difficult times.
“The path towards 100MW of ocean energy by 2025 is opening up.
“As the world begins to get back on its feet, these innovative technologies are a key part of a recovery that is both green and just. We should be proud of how much the sector, with its unswerving commitment, has achieved in an unpredictable year.”