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Assessment of Potential and Promotion of New Generation of Renewable Technologies ____________________________________________________________________________________________ The objective would be to replicate the pilot plant already up and running in Soultz-sous- Forêt (France) in different environments in other Member States. Between 15 and 20 EGS plant would be installed representing a total capacity of around 200MWel, i.e. between 15 and 25% of the target set for the whole sector by 2020. The development of those demonstration plants would include a very strong R&D component as occurring each time in a new geological environment. The estimated budget required for the installation of one such plant is €50 million, meaning that the total budget expenditure for the whole initiative would be between €750 million and €1 billion. The implementation of this ambitious program will require specific financial instruments (Public-Private Partnerships and grants) and co-financing from public institutions (European Union, International Financing Institutions, national and regional authorities, public funds), the private sector (investors, banks and the industry) and research institutes. 2.2.7. Ocean, wave and tidal Public R&D spending No aggregate data of Member States budgets or corporate spending were available at the time of writing. By adding the EU budgets of all ocean energy projects financed under FP6 it has been calculated that the total FP6 funding for ocean energy was €17.4 million. The IEA online database also provides detailed information for Member States that are also OECD countries. This information is summarized on the following chart. Figure 31: Public R&D funding for ocean energy by country Source: Data on this chart are based on the IEA online RD&D Statistics database. They reflect the most up-to- date information available for each country in those two sources. 2008 data: UK, Spain, Sweden, Denmark, Portugal, Korea, Canada, Norway. 2007 data: Ireland, France, Austria. Here the number of Member States investing in marine energy R&D today is very limited. United Kingdom is taking a very strong lead as indicated by the chart, with an overall public funding of over €11 million, nearly 4 times more than the second in this ranking which is Spain. Other European countries investing in marine energy according to these data are Sweden, Denmark, and to a lesser extent Ireland, France and Portugal. IP/A/ITRE/ST/2009-11 & 12 63 PE 440.278PDF Image | Policy Department Renewable Technologies
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