The Strategic Roadmap of the Ocean Energy Forum was formally delivered to the European Commission on 8th November 2016. Publication of the Roadmap culminates over two-years’ work by Ocean Energy Forum stakeholders. The Roadmap identifies a path forwards, building on European leadership in ocean energy, and developing technologies that can meet a significant amount of Europe’s power demand over the next 35 years. One of the six priority areas identified, is the need to device standards and certification to facilitate access to commercial funding.
Building on existing work, such as the standards developed by the International Electrotechnical Commission (IEC) under Technology Committee 114 ( (TC 114) on Marine Energy, the industry needs to develop and share guidelines on optimal device operation and farm lay-out requirements. This is an essential step towards the development of industry-wide standards, permitting the certification of ocean energy devices, that are an important support to financial institutions when judging project risks and making investment decisions.
One of the recommendations is to set up a working group with developers (including representatives of all stages in the device development), contractors, insurers/brokers, etc. to derive a contract structure model with risk options and strategies, codes of best practice, certification standards for marine deployment, moorings, cabling, sea fastenings, vessels, studies of weather risk, etc., and use it to engage with the insurance industry.