Time to turn blue energy into a success story for Europe - Main contents

Clean energy is the future, and Europe is leading the way. We've all heard of "green" energy, and we see evidence of its growth all around us: the wind parks on the horizon, the solar panels on our neighbours' roof. But what about renewable energy from the sea? What role can "blue" energy like offshore wind, wave and tidal stream energy play in meeting Europe's clean energy ambitions?

The answer is: more than one might think. I am convinced that our seas hold a dual promise: the promise of an environmentally sound future, but also the promise of economic growth. The new forms of ocean energy are so compelling because they tick both boxes. They create new jobs and they provide cleaner, more sustainable ways of powering our economies.

This is not some dream for the future; it is already happening. In 2014, 13% of new wind turbine capacity was installed offshore. That is translating into jobs: since 2008, employment in offshore wind has grown by an astonishing 30% a year.

Yet despite its undoubted potential, blue energy is facing challenges. Technology costs are high and access to finance is often difficult. Infrastructure like offshore electricity grids or access to adequate port facilities and specialised vessels does not always exist. Complex licensing and approval procedures can delay projects and raise costs. The demonstration phase is the trickiest of all. Large sums of money are needed and the risks are high.

The good news is: we have been here before. And we have created success stories. It has taken a lot of public and private support to get the wind energy and solar sector to where they are now. Yet they have delivered: since 2009, the cost of wind turbines has fallen by 30%. Energy from the seas will get cheaper too. Like onshore wind and solar, it just needs a "little" push.

These are some of the reasons why the European Union set up an Ocean Energy Forum last year, and why I was in Dublin last week to take part in its second high-level meeting, alongside business leaders and government ministers.

Building a new industry has never been easy. It is crucial for countries and companies to work together. The work carried out by the Ocean Energy Forum shows that industry and governments can collaborate to identify common problems and barriers to the development of the sector. This is translating into encouraging developments out at sea, for instance demonstration projects like the MeyGen project in Scotland and the tidal energy pilot farms in the Alderney Race off the French coast.

In December this year, world leaders will meet at the UN climate talks in Paris to strike a deal on a new climate agreement. I will attend the 'Oceans Day' on 4 December. Clean energy is critical to limit global warming to 2 degrees Celsius. I am convinced that blue energy from the sea has a part to play in delivering on this aim - but also to deliver on the EU's, and Ireland's, plans to foster ocean-based economic growth. As with green energy, let's work together to turn blue energy into a success story for Europe.