New materials and ways to tackle corrosion in the wave, tidal and offshore wind energy sectors across Europe could create up to £72bn in supply chain opportunities and save developers up to £74bn by 2050, according to new research.
The research has been delivered in two reports by the EU-backed NeSSIE initiative, which is investigating the economic potential of anti-corrosion solutions and the development of new materials in the offshore renewables market.
In the wave and tidal energy sector, the reports found that anti-corrosion measures could save developers £14bn by 2050 and up to £60bn in the offshore wind market by mid-century.
The anti-corrosion supply chain could be worth £50bn for offshore wind and £22bn for marine energy over the same timescale, NeSSIE added.
Scottish Enterprise team leader Jan Reid said: “We can see there is a tremendous economic prize for the EU offshore supply chain in tackling this challenge and supporting the EU to decarbonise the energy sector.
“The key to unlocking this opportunity is developing investable demonstration projects that will prove the technological solutions.”
NeSSIE is aiming to develop three investable demonstration projects in offshore renewables focused on corrosion and materials.
It was set up in May 2017 and will finish in April next year. Participants include Scottish Enterprise, Basque Energy Cluster, Sirris from Belgium, Sweden’s Svenskt Marintekniskt Forum, the University of Edinburgh, Italy’s Lombardy Energy Cleantech Cluster and Società Consortile per Azioni, and the Fundación Asturiana de la Energía from Spain.
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