Photo: Illustration (Image: DP Energy)

ETIP Ocean takes on marine energy revenue support schemes

The European Technology and Innovation Platform for Ocean Energy (ETIP Ocean) has set up a webinar that will look into the financial puzzle project developers face while ‘putting together’ their ocean energy projects.

Revenue support schemes have proved extremely successful at driving innovation, lowering costs and creating markets for renewable energy technologies, according to ETIP Ocean.

By incentivizing production, revenue support can make the business case for the best performing technologies stack up. It drives investment by reducing risk and is a critical step for ocean energy on the road to industrialization, ETIP Ocean said.

Therefore, the webinar – scheduled for May 16, 2018 – will welcome Niamh Kenny, Business Development Manager at DP Energy, who will explain the clear rationale for revenue supports for emerging technology like marine renewables, based on historical trends and requirements for current projects.

Also, Shelley MacDougall, Professor in the Business department at Acadia University, will present Nova Scotia’s support scheme.

ETIP Ocean is regarded as an advisory body to the European Commission. It is managed by Ocean Energy Europe and the University of Edinburgh, bringing together around 250 experts from 150 organizations covering the entire European ocean energy sector.