Renewable Ocean Energy
The Atlantic seaboard, stretching from the north of Norway to the south of Portugal, is
one of the world’s richest areas in terms of wind, wave and tidal energy. Indeed, this is
one of the greatest assets and future opportunities of the European Atlantic Area. While
there are a number of technical, economic and environmental challenges related to these
new technologies, the potential benefits to the region and the European Union are
significant. It is currently estimated that by 2050, up to 50% of Europe’s electricity
supply could be provided by renewable ocean energy generated off the Atlantic coast 1.
This would have huge advantages for the region in terms of job creation and
internationally traded products and services, for the Union as a whole in terms of energy
security, and in terms of a reduction in the EU’s reliance on fossil fuels and CO 2
emissions.
However, this potential will only be realised by coordinated action and governance
putting the right regulations and supports in place in order to ensure inter-connectivity
that will move energy from where it is produced at the Atlantic seaboard to where it is
needed in the urban and industrial centres of the Union.
Marine Biotechnology
Given their extensive marine territories the Atlantic Member States are well placed
geographically to exploit the potential of marine biotechnology. Marine biotechnology
offers huge potential for innovative, sustainable development. The global market for
marine biotechnology products and processes is currently estimated at a conservative
€2.8 billion (2010) with a cumulative annual growth rate of 4-5%. More optimistic
estimates predict an annual growth in the sector of up to 10-12% in the coming years,
illustrating the huge potential and high expectations for further development of the
marine biotechnology sector at a global scale2.
1
Marine Renewable Energy: Research Challenges and Opportunities for a new Energy Era in Europe. Marine Board-ESF /
European Ocean Energy Association (October 2010).
2
Marine Biotechnology: A New Vision and Strategy for Europe (2010). Marine Board Position Paper No 15.
91pp.