European Union’s Transport, Telecommunications and Energy (TTE) Council has restated its support to blue growth by endorsing the Valetta Declaration.
The Valetta Declaration encourages initiatives that ‘promote the circular economy within the blue economy based on clean technologies, and promote renewable energies’.
It also endorses combining funding instruments to generate investment through suitable investment platforms, according to Ocean Energy Europe.
The TTE Council, made up of EU Transport, Telecommunications and Energy Ministers, called for Members States and the European Commission to remove obstacles to growth, boost investment in this area, and introduce measures to ensure that outermost, peripheral, coastal and island regions are offered adequate growth opportunities.
The industry body representing the European ocean energy sector, Ocean Energy Europe (OEE), has welcomed the declaration stating that it acknowledges the key role ocean energy developments will have in tomorrow’s economy.
Jacopo Moccia , Policy Director at OEE, said: “Ocean energy has been developing at a steady speed over the past years, with an increasing number of devices and arrays in the water. This exciting sector will be a cornerstone of Europe’s economy in the future and it is encouraging that EU governments and Commission are putting at the center of their blue growth strategy.
“OEE and the ocean energy industry are ready to continue working constructively with the Commission and national authorities to ensure an efficient and sustainable development of the sector.”
In addition, the TTE Council said the Member states should also work on supporting new technologies that contribute to the maritime economy and, encourage closer cooperation between education and industry in order to help promote training and job opportunities.