Member's Area
Indian Ocean Rim Association
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Renewable Ocean Energy

Renewable Ocean Energy

The world population is expected to increase to an estimated 9 billion people in 2050, which is 1.5 times greater than the current population, resulting in an increase in countries' demands on fossil fuels. Recently there has been a collapse in the price of crude oil, but the possibility of an eventual normalization (of return to higher prices) should not be disregarded and thus necessitates the continued attention of IORA Member States to consider alternative renewable sources of energy. Renewable sources of energy such as solar and wind are already being implemented worldwide. However, additional incentives in renewable energy are strongly in demand to further decrease the burden on fossil fuels. The time is therefore appropriate to explore the potential of renewable energy derived from the ocean. The ocean offers vast potential for renewable "blue energy" from wind, wave, tidal, thermal and biomass sources. 

In line with the above efforts, it is also proposed to bring together the offshore oil and gas community with the renewable ocean energy community to undertake a gap analysis in relation to Oil and Gas exploration. In this regard the potential for the development of the offshore oil and gas industry in the Indian Ocean region should also be taken into consideration.