Gouvernement Princier de Monaco
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02 March 2023 Press release

Monegasque company receives funding as part of new HORIZON EUROPE scheme for first time

©Direction de la Communication - Stéphane Danna

The new co-funding scheme enables Monegasque partners of a European consortium to gain access to the European Commission’s Horizon Europe research and development programme.

The SBM Offshore group is a partner of the European Scalable Complementary Offshore Renewable Energy Sources (SCORES) consortium, selected by the European Commission as part of the H2020-LC-GD-2020-1 “Societal Challenges – Secure, clean and efficient energy” call for proposals, launched in September 2021.

Single Buoy Moorings Offshore Bureau d’Etudes Monaco, the main Monegasque entity within SBM Offshore that is involved in this project, is the first Monegasque company to be selected by the Prince’s Government as part of this co-funding scheme.

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

The project involves demonstrating that effective and optimised use of different offshore renewable resources and the complementarity between them in European maritime areas are key to Europe’s energy transition and to achieving a low-carbon economy with no greenhouse gases by 2050.

The Commission is contributing €34.8 million of the project’s total budget of €45.4 million.

SCORES is the first European project under the Green Deal Calls programme in which SBM Offshore is a participant. It will enable SBM Offshore to expand its knowledge of the market for renewable energy (wind, solar and wave) in the various European sea basins.

The SCORES project will help to consolidate SBM Offshore’s strategy and positioning in this field.

This funding of 50% of the selected programme will help to support SBM Offshore as it develops renewable energy sources, and to facilitate the group’s access to European energy transition programmes. It is also a mark of the Principality’s confidence in the skills and projects at SBM Offshore and its Monegasque entities.

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