Sweden allocates over €10 million for marine energy

The Swedish Energy Agency has invested €10.2 million (SEK 105 million) in the country’s marine energy development program whose first call for proposals is expected to be launched this May.

Illustration/CorPower Ocean's wave energy buoy (Photo: CorPower Ocean)

The continued investment in marine energy will contribute to exports of Swedish expertise and products, the country’s energy agency said.

The new program is based on the Swedish Energy Agency’s Marine Energy Strategy, which was launched in the spring last year, and that will be implemented between 2018–2024.

Its objective is to increase collaboration between market players while supporting environmentally sustainable innovative solutions that contribute to cost reductions and efficiency improvements.

The focus of the program is put on the technologies that have the potential to be commercialized by 2030, according to Swedish Energy Agency.

The first call for proposals as part of the program is expected to be made in May 2018, the agency added.

Marit Marsh Strömberg, Program Manager at Swedish Energy Agency, said: “The purpose of our investment in marine energy – in addition to contributing to future global renewable energy systems that will be partly based on ocean energy – is also to create enabling opportunities for the increase of Swedish exports and jobs.

“We have good resources in Sweden and we want to take advantage of them even if we do not yet know how the marine energy industry will develop, as it’s still in its infancy.”

Furthermore, the energy agency plans to make one call for proposals per year as part of the program for at least first four years, in addition to any announcements regarding the international cooperation.