An Ocean Energy Road Map for Panama and Strategy for Panama

This project will develop an ocean energy roadmap and strategy for Panama in order to identify and give strategic direction to address the key technical, regulatory, finance and infrastructure considerations which must be addressed to accelerate the development and commercialisation of ocean energy industry in Panama, which has significant unexploited marine renewable energy resource and considerable economic growth potential.

The limited life of fossil fuels is pushing nowadays the transition to a blue-economy led by renewables on the energy scenario. Based on the predictions by the International Energy Association the wave and tidal total resource is of the order of tens of terawats (similar to the Earth’s electricy consumption), then it is clear that ocean energy represents an interesting source of energy to be exploited in the future. Panama’s distinctive natural resource and academic and industrial heritage make it a potential world leader in the development and commercialisation of ocean energy.  
 
Therefore, this project will undertake a strategic analysis exercise to enable Panama to understand the development needs in order to capitalise upon indigenous marine resource. An analysis of the current innovation landscape will be carried out, based on some reseach and some stakeholder engagement. The most relevant orgnaizations in ocean Energy in Panama will be contacted in order to have the current picture of the status of this energy. From this analysis a strategy will be formulated in order to further develop this industry, specifying which steps in the aforementioned streams (technical, finance, regulatory…) need to be addressed. 
 
Furthermore, this project will develop and deepen the existing links between the project stakeholders in Panama and the UK through new collaborations in order to transfer relevant knowledge and experience, conveyed through the interactions during the project and a final project strategy report.