Europe’s ocean energy sector is on track to deploy around 200 devices by 2030, according to a new industry report.
Ocean Energy Europe’s Stats & Trends: Ocean Energy Market Outlook 2025 found that 16 publicly funded farms are set to deliver 196 MW, with national targets and commitments pointing to a further 650 MW of capacity by 2030.
The report credits public grants and national revenue-support schemes with bringing the projects forward, and says the pipeline is now driving serial manufacturing and strengthening European supply chains, as well as attracting private investment.
Tidal and wave move to farm scale
Europe’s tidal pipeline comprises 11 pre-commercial farms, representing 172 MW and 140 devices. The report attributes most of this growth to revenue support, particularly the UK’s Contracts for Difference (CfD) auctions and French feed-in tariffs. France has also committed to launching a commercial tender for 250 MW of tidal capacity by 2030.
Wave energy is moving into farm-scale deployment too, with five publicly funded farms – representing 24 MW and 66 devices – due by 2030. Among them is CorPower Ocean’s 10 MW VianaWave project in Portugal, supported by a €40m Innovation Fund grant. It is the largest wave farm allocated to date and will use a dedicated assembly facility in Portugal.
Manufacturing investment follows the pipeline
The growing pipeline is already translating into manufacturing investment. In 2025, SKF committed a seven-figure sum to a dedicated tidal turbine assembly hall in Hamburg, with capacity to produce 25-30 drivetrains a year. Developers are also working with local shipyards and suppliers, anchoring industrial activity and jobs in Europe.
The report records €150m of private investment in ocean energy over the past five years, with 2025 investment holding at the same level as 2024. Ocean Energy Europe said venture capital funds, institutional investors and energy companies are increasingly backing the sector as publicly supported projects move forward.
Rémi Gruet, chief executive of Ocean Energy Europe, said: “Europe has spent years building a technological lead in ocean energy. We are now seeing that investment translate into real farms, manufacturing capacity and private finance. Industrial scale-up is taking shape, and the sector is ready to deliver.
“Public support has worked. It has brought projects forward and given investors the confidence to commit. Governments now need to build on that momentum with long-term revenue support and clear market targets. This is how Europe can turn its technological advantage into a competitive industry that delivers home-grown renewable power, jobs and energy security.”
International competition rising
Europe remains the global leader in ocean energy technology and deployment, but the report notes that international competition is increasing. The United States earmarked $141m for ocean energy in its 2025 budget, matching its 2024 allocation, while China has set a 400 MW target for 2030.
The findings follow Ocean Energy Europe’s Global Resource Assessment, published in June, which found that ocean energy could supply 13% of global electricity demand and 21% of current EU consumption.
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