The Ocean Renewable Energy Action Coalition has been launched to advance the development of ocean-based renewable energy such as offshore wind, floating solar, tidal and wave power.
Led by Ørsted and Equinor, the coalition includes CWind, Global Marine Group, JERA, MHI Vestas, Mainstream Renewable Power, Shell, Siemens Gamesa, TenneT and The Crown Estate.
The group says that ocean-based renewable energy could meet close to 10% of the annual greenhouse gas emissions reductions needed by 2050 to keep global temperatures under 1.5ºC above pre-industrial levels, citing a report by the High-Level Panel for a Sustainable Ocean Economy.
Stephen Bull, senior vice president for wind and low carbon at Equinor, said: “Collaboration between nations and companies is needed to accelerate the sustainable deployment of ocean renewable energy. This Action Coalition includes leading industry players in offshore wind and we are working together to unleash the full potential of offshore wind globally.”
The coalition will prepare a vision for 2050 to sustainably scale-up offshore wind, and will unveil its initial recommendations at the UN Ocean Conference in Lisbon in June 2020.