The partnership will deepen existing cooperation to accelerate the commercialisation of ocean energy technologies, by promoting the right policy incentives and innovative business models in Europe and globally.
Oceans hold abundant, largely untapped renewable energy potential that could drive a vigorous global blue economy, as two new studies by IRENA, released in December 2020, show. ‘Fostering a blue economy: Offshore renewable energy’ and the agency’s ‘Innovation outlook: Ocean energy technologies’ find that in addition to providing mainstream power generation, a blue economy driven by offshore renewables would bring major benefits to Small Island Developing States and coastal communities.
