Abstract
Ocean energy scales towards industrialisation
16 farms supported by public funding will deploy 200 devices by 2030 (196 MW). Public grants and revenue-support schemes were instrumental to unlock this pipeline. This public funding also created market visibility and fostered investor confidence.
Deployments will still need to increase to reach the 650 MW national targets and commitments, including a 250 MW commercial call for tidal in France.
The US and China showed strategic and financial commitment to ocean energy. The US earmarked $1bn for ocean energy in the last 7 years and China announced a 400 MW target by 2030.
EU and Member States retain a technological advantage but must continue their support to industrialise this new sector.
200 devices to be deployed
The pipeline of publicly funded deployments until 2030 grew to 200 devices, representing 196 MW of capacity added. The serial manufacture of devices will lower costs significantly and strengthen the European supply chain.
250 MW tidal call in France
France committed to launch a 250 MW commercial call for tidal by 2030. This call will create the largest ocean energy market in the EU.
10 MW wave farm awarded
CorPower Ocean won a €40m Innovation Fund grant for its VianaWave project in Portugal. The 10 MW farm is the largest wave farm ever and kick-starts a new phase in wave energy development.
€150m investment over 5 years
Private investors followed public signals and invested €150m into ocean energy in the last 5 years, with both venture capital and energy companies betting on the technology.
400 MW target in China
China doubled down on ocean energy, setting a 400 MW target for 2030. While still less technologically advanced than Europe, the country is committed to “large-scale utilisation of ocean energy” (5-year plan).
$141m annual budget in US
For the second year in a row, the US allocated the record sum of $141m to ocean energy in 2025. Despite political uncertainty on some renewables, the commitment to ocean energy remains.