The UK is participating in the ongoing EU-funded MARIBE project examining how marine projects could cut costs and benefit from each other by linking up - optimising the use of oceans and seas would also stimulate growth in the blue economy.

Covering 71 % of the Earth’s surface, the resources in oceans and seas are of interest to a number of sectors. Renewable energy production, aquaculture and marine biotechnology are just some of the areas which could drive substantial growth in the offshore, or the ‘blue’, economy.

As maritime activity grows, ocean and sea space is at a premium. The EU-funded MARIBE project has explored innovative ways to boost the offshore economy in the Atlantic, Baltic, North Sea and Caribbean basins. It identified sectors where shared activities could offer economic and environmental benefits, and proposed match-ups for projects further offshore.

Combining marine energy production and aquaculture, for example, could save on costs and pave the way for facilities to be moved further offshore, where they would benefit from added protection and the flexibility that comes with being alongside energy production.

Wave farms could provide protection for cages used in aquaculture farms further offshore.

The project also explored the potential hurdles to sharing, collaborating and investing within and between sectors, and developed tools to help stakeholders develop business plans, financial projections and improve their investment pitches.

MARIBE’s recommendations include the development of a common EU regulatory framework for marine spatial planning and increased funding to promote multi-use projects and platforms, together with boosting investor confidence in the nascent sector.

Belgium, the Netherlands, Spain, Malta and Italy were the other participants in the circa €2 million MARIBE project, which has been coordinated by Ireland and is scheduled for completion in August 2018.