1. Financing – Ocean Energy Forum
Rémi Gruet, CEO, Ocean Energy Europe

2. Ocean Energy Europe:
- 113 members
- 11 Lead Partners:

3. Ocean Energy Europe 5 Resources – 5 technologies – 5 opportunities
Tidal stream
Ocean Thermal Energy Conversion
Salinity gradient
Wave
Tidal range

4. Why Ocean Energy? Jobs Investments Economic Dev New industrial sector
Export opportunities
Locally anchored
First movers
AND: great resource, climate change, energy security…

5. Ocean Energy Forum Roadmap
Objective: industrial roll-out
Informing decision-makers
Industry consensus on challenges and solutions
In depth look at targeted financing

6. Ocean Energy Forum 2.5 years of work 150+ experts
Cross-sectoral consultations to reach consensus
Per development phase
Identify challenges
Tackle barriers
Propose solutions
Two main objectives

7. 4 solutions across 4 phases
R&D
Prototype
Demonstration
Pre-Commercial
Industrial Roll-Out
EU wide phase-gate technology development process
TRL 1-4
TRL 3-6
TRL 5-7
TRL 6-8
TRL 7-9
Investment Fund for demonstration farms
EU Insurance & Guarantee Fund to underwrite demonstration risks
De-risking environmental consenting through an integrated programme of measures

8. Streamlining R&D – A phase-gate process for innovation
Model/starting point – Wave Energy Scotland
EU « vessel » – Horizon 2020 WP
Last years = chance to change classical approaches
State of play
OEE promoted the idea – officially discussed at EU level
Member States involved – Ireland, Scotland…
WP Proposal gone/going to Ministries – good/detailed enough ?
Host ? Criteria for phases ? Final Budget ?
Next steps – OEE, TP Ocean and the sector to lobby EC
The EU -> OEF
Under the right conditions, industrial roll-out over next 15 years.

9. Demonstration farms – an investment fund for Ocean
Model/starting point – modified Scottish REIF
EU vessel – EFSI Investment Platform
European Fund for Structural Investment (Juncker Plan)
Very similar to the OEF Roadmap Investment Fund
State of play – EC / EIB well engaged
Commissionner Vella announced market study at OEE2016
OEE met several EIB / EC officials, financiers, OE companies
Needed for EIB involvment? – Innovfin + AW Energy
Host? Budget ? Criteria? – tbd… but EIB compliant
Next step – OEE to gather project pipeline information
The EU -> OEF
Under the right conditions, industrial roll-out over next 15 years.

10. Demonstration farms – Insurance Fund
Model – none, never been done before
EU vessel ?
NER 300 Leftovers – EC wants to spend the money fast
Horizon 2020 – would hamper financing earlier TRLs
Need for another solution
Could be a sub-part of an investment platform?
State of play – searching for solutions
Idea to be kept, maybe for a later stage
Maybe modified to fit earlier projects – cf MRIA paper
The EU -> OEF
Under the right conditions, industrial roll-out over next 15 years.

11. De-risking environment and consenting
No model – Best practices
EU vessel – EU Maritime and Fisheries Fund
=> DG MARE putting together a funding programme for environment and consenting in ocean energy
Targeting OEF Roadmap proposals
State of play – Announced by Commissioner Vella at OEE2016
Planned launch – summer 2017
Budget ?
Next steps – Ocean Energy sector to apply
The EU -> OEF
Under the right conditions, industrial roll-out over next 15 years.

12. Conclusions - OEF and financing
OEF = 4 actions for sector
=> 3 of those are progressing well
Fostered sector consensus
Leveraged strong political support at EU level
Financing remains key to reap the benefits of ocean energy