"In Europe, scaling up to mass production is complicated" (Rémi Gruet, Ocean Energy Europe)

France has just announced commercial tenders for 250 MW of tidal power capacity by 2030, a further step towards the industrialisation of the sector. Why is this political impetus coming now?

The main obstacle was political. It's always easier to work with existing sectors than to project yourself into sectors that are in full development, as is the case with tidal or wave energy. Political decision-makers have to consider both the long-term economic interest and immediate budgetary issues. Over the last eight years, the budgetary trend has not been favourable. Over the last two or three years, there has been a significant influx of money, several hundred million euros in financial support at European level and in the UK. France is now catching up.

The technologies have been ready for five years and the sector has been waiting for a political signal coupled with financial support, which is crucial when we are dealing with innovative technologies, and therefore more expensive than solar or wind energy. This announcement is essential, as it increases market visibility for tidal power in France and Europe. A volume of 250 MW will make it possible to develop standardisation, automation, production and installation strategies, thereby reducing costs and optimising supply chains.

In an interview with News Tank Énergies in 2024, you said that the UK and France were the most advanced countries in the offshore energy sector. What are the obstacles to the development of this sector in other European countries?

The UK and France are the two biggest markets for tidal power in Europe. For the others, wave energy will be the most interesting technology, though financing remains a challenge. The lack of subsidies is a major problem for innovative technologies, which are therefore more expensive at the start of their development. What's more, we're talking about electrical infrastructure here, not everyday consumer products, which means much greater investment - with greater return on investment.

A pilot farm of ten machines can cost between €100m and €200m, depending on their size. Of course, these machines produce a lot of electricity, so the return on investment is there. But when you're talking about such significant financial contributions, you need long-term planning. That's why politicians need to fully grasp the value of providing financial support for this technology to help bring costs down. This is more the case today, which is why we are also starting to see private investors take an interest in the sector.

Geographically, wave power can develop from Norway to Morocco, thanks to the waves along the Atlantic coast. Sweden and Denmark will have a smaller resource, unlike the UK, Ireland and France. The potential in Portugal and Spain is also very significant. For Morocco, the resource has not yet been evaluated, but it will probably be similar. For tidal power, the largest market remains France and the UK.

Finally, there's the question of the location of the machines production: initially, production will mainly take place close to the installation site, but after a while part of the supply chain will be rationalised. Today, 17 countries are already part of our supply chain, which goes beyond just coastal countries.

How big is the marine energy sector in Europe at present? What development trajectory do you envisage between now and 2035?

For a long time, our objective was to deploy 100 GW by 2050 in Europe, as part of a global market worth €50 Bn. Now that the technologies have evolved and we have a better understanding of the resources, we should exceed this capacity by large. We are currently working with the International Renewable Energy Agency (IRENA) on a report on marine energy resources in Europe and worldwide, which will be published at the end of March 2026.

In terms of employment, we estimate that there will be between 400,000 and 500,000 full-time jobs in the industry by 2050. At the moment, we don't have too much of a shortage of labour to build our machines, and the current collapse of the North Sea oil and gas sector is providing a workforce that can be directly mobilised for our sector.

How is Europe positioning itself in marine energy in the face of global competition?

European resources are already very good, even if they are even better on other continents. At the end of the day, it depends a lot on the kilometres of coastline in the countries concerned.

In industrial terms, Europe has a clear technological advantage over other continents, thanks in particular to European research funds. More machines have been developed and their performance tested, and the most advanced producers are all European.

That said, Canada, the United States and China are also investing, and although they are lagging behind us, the resources they are mobilising are enormous. The United States has subsidised its marine energy sector to the tune of $983m (€845.1m) since 2020, particularly for wave power. So the competition is going to get tougher. In Europe, we may have good ideas, phenomenal researchers and disruptive technologies, but the scale-up to mass production is generally complicated.

In China, for example, 50% of the capex of machine manufacturers is financed by the government, and they can benefit from feed-in tariffs of around €300 per megawatt-hour. In Europe, the figure is currently between €150 and €280 per megawatt-hour - and that's without Capex support! Except in France, where this was offered for the first pilot farms. In that sense, the French approach is better than the British one, which only offers a feed-in tariff.

You are a member of the Blue Alliance, launched last October by the Conference of Peripheral Maritime Regions and supported by French Socialist MEP Christophe Clergeau. How do you intend to use your voice within this alliance?

The aim of the Alliance is to obtain a strong and implementable European pact for the oceans. At this stage, the European Commission's communication lacks concrete actions and deadlines, and its real impact remains to be seen. The Alliance brings together players from different sectors who share the desire to see an ocean industry develop and take its place within European industry.

How is your sector likely to be affected by the European strategies soon to be presented by the Commission?

We are awaiting concrete announcements from the Commission. Originally, the Ocean Act, which will be presented by the end of 2026, was intended to implement the objectives of the Ocean Pact. What we are hearing now is that it could be an update of a directive on maritime planning. This lacks clarity and concrete objectives.

The European policies that have had and continue to have the greatest impact on our sector are financial policies: the Innovation Fund, Horizon Europe. These are essential funds for the sector, enabling us to develop pilot and pre-commercial farms, develop prototypes, improve components and carry out research into materials. This complements national government support and subsidies, which are more geared towards the deployment and industrialisation of the sector.

The cost of capital is very high when you are innovating. So any mechanism that can lower the cost of capital is crucial. Ideally, we'd like the European Investment Bank to offer reduced- or even zero-cost loans. These are invaluable mechanisms for financing these projects and lowering costs in the long term.