Europe’s ocean industry salutes 35% by 2030 renewables goal

Europe’s ocean energy industry has welcomed the ambition shown by the European Parliament in a vote to increase the share of renewable energy sources in the EU’s electricity mix to 35% by 2030.

Namely, in a vote that took place yesterday, January 17, 2018, MEPs backed a target of 35% renewable energy in the EU by 2030, and voted for measures to encourage investment and reduce the cost of renewables.

Rémi Gruet, Ocean Energy Europe’s CEO, welcomed the vote saying: “Ocean energy is ready for commercial roll-out over the next decade. To commit private finance, investors need a clear political signal from Europe. The Parliament provides just this, with a 35% target for renewables, a financial instrument to reduce the cost of capital, and a ban on retroactive changes.

“Member states must now agree to this target and provide long term visibility for renewables, a booming sector which created hundreds of thousands of jobs in the last 10 years.

“Europe is the clear global leader in ocean energy technology & project development. It is vital we capitalize on this advantage to create a new European industry, with a significant home market and global export opportunities. A 35% target is the minimum required for Europe to maintain global leadership.”

The proposed target is higher than that of 27% adopted by the European Council in December 2017.

MEPs will now negotiate the final directive with EU member states’ representatives in the coming months.

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