EUROPEAN COMMISSION

In March 2018 the SET-Plan Ocean Energy Implementation Plan has been endorsed. It sets out technical, financial and environmental actions for the coming years to support the development of ocean energy technologies towards commercialisation and to realise the cost-reduction targets agreed in 2016. 

Following this plan, the European Commission has undertaken a market study assessing financial needs and providing options for the design of Investment Support and Insurance Fund for ocean energy technologies.

The European Commission cooperates closely with its Member States to increase support for ocean energy and to encourage them to include trajectories for marine renewable energies in their 2030 National Energy and Climate Plans that are currently being developed. 

The European Commission continued to support ocean energy development via their funding programmes like Horizon 2020 and the European Regional Development Fund.