Wave power back in focus

With 70% of the Earth’s surface covered by water, the ocean represents a vast and largely untapped source of renewable energy. Wave power, in particular, has seen significant technological progress since the early projects of the 1980s, which failed and left the technology with an undeservedly poor reputation.

Today, however, the European Union has set ambitious targets for ocean energy, aiming for 40 GW of installed capacity by 2050.

Against this backdrop, Energy Transition Norway and Validé hosted a seminar on wave power at the Innovation Park in Stavanger on August 26th.

The event brought together entrepreneurs and technology providers, who presented their solutions to an evaluation committee with representatives from Validé, Energy Transition Norway, and other key stakeholders.

Together, the committee will consider which companies could be relevant for participation in a multi-company project linked to upcoming Horizon Europe calls and other funding schemes, exploring market opportunities both nationally and internationally.

The agenda included several high-level contributions

Ernst Kloster from Subsea7 expressed confidence in wave energy and highlighted the need to develop large-scale test facilities.

Vanessa Richon from TotalEnergies shared that the operator is already engaged in a pilot project and open to new technologies.

Fredrik Varpe from Equinor presented their earlier studies, analyses, and screenings of wave energy technologies, confirming that wave power remains on the opportunity map of Norway’s largest energy company.

Bente Rød Eide and Stein Oddvar Sægrov from Innovation Norway spoke about what it will take to unlock relevant financing opportunities within the national support system.

The following technology companies presented their solutions to industry stakeholders during the seminar:

• Concrest Energy – Leif Arne Tønnessen

• Hurricane Innovation – Erlend Aamot & Svein Tore Hollund

• Havkraft – Ingvill Bækø

• Stationmar – Pål Norheim & Per A. Vatne

• Sea Motion Energy – Magnar Frøyland & Kåre Jarl Salvesen

• Flex2Future – Erik Svanes

• Hydrakraft – Ingvald Straume & Thomas Due

Energy Transition Norway, Validé, and Subsea7 will now review the data gathered from the presentations and follow up with the companies in the aftermath of the event.