OceanSET Annual Report 2023

The OceanSET annual report updates the SET Plan implementation working group for ocean energy (OE-IWG) on progress in the sector in the calendar year 2023. 

Member countries continue to support the ocean energy sector through the development of national and regional policies for offshore renewable energy, revenue support mechanisms, national and regional test and demonstration facilities, and funding programmes. However, the ocean energy sector must compete with the mature offshore energy sectors, particularly offshore wind. Ocean energy specific policy targets, dedicated revenue support mechanisms and focussed funding programmes are needed to accelerate the roll-out of ocean energy technology.  

Forty-eight (48) new ocean energy projects have been identified in 2023, receiving a total commitment of €181.2 million in grant aid through European, national and regional programmes. 

• The European Commission committed some €65.5 million to eight (8) projects through the Horizon R&I programme and a further €65.5 million to two (2) projects through the Innovation Fund programme.  

• OE-IWG countries committed some €50.2 million to thirty-eight (38) projects. 

In addition, France committed €75 million from its “France 2030” programme to the FloWatt tidal stream project that will see 17.5MW (seven (7) tidal stream turbines) installed the Raz Blanchard, Normandy. 

An assessment of progress in delivering the expected investment in the Technical theme actions of the Implementation Plan (IP) identified 151 projects receiving public grant aid of some €496 million: 

• 144 projects, receiving €508 million, addressed a Technical theme action
  (‘in-scope’ projects). 

• 66 projects, receiving €237 million, did not address a Technical theme action (‘out-of-scope’ projects).