As a tangible example of cooperation between Monaco and the European Union, SBM Offshore will have access to the Research and Development program of the European Commission known as ‘Horizon Europe.”

The SBM Offshore group is a partner in the SCORES consortium, “European Scalable Complementary Offshore Renewable Energy Sources” selected by the European Commission within the framework of the call for projects H2020-LC-GD-2020-1.“

Launched in September 2021. Single Buoy Moorings Offshore Bureau d’Etudes Monaco, the main Monegasque entity of the SBM Offshore group involved in this project, is the first Monegasque company to be retained by the Prince’s Government under this co-financing scheme.

Led by the Dutch Marine Energy Centre – DMEC, this consortium brings together 17 partners from 10 countries including Monaco.

This project consists in demonstrating that the effective and optimised use of the different offshore renewable resources and their complementarity in maritime areas is key for Europe’s energy transition and for ensuring a carbon-free and greenhouse gas-free economy by 2050.

The overall project budget of €45.4 million is subsidised by the Commission to the tune of €34.8 million.

The Government said that the partnership is also a sign of confidence on the part of the Principality in the skills and projects of the SBM Group Offshore and its Monegasque entities.

ORIGINAL SOURCE & PHOTO: Monaco Government Press Service