Ocean Energy Europe – the Brussels-based marine energy trade association – has moved to assure its members that all EU contracts, project funding and the ability to apply for future funding – remain valid and open until the actual day that Britain’s membership of the EU-bloc is terminated.
OEE – whose members include tidal power giant Atlantis Resources and Scottish Power – has obtained assurances from the European Commission that all existing contracts to award Commission funds (such as Horizon 2020, LIFE, NER 300) and all financing contracts with the European Investment Bank (such as InnovFin, EFSI, loans and equity) for companies and organisations in the UK are still valid and binding.
Moreover, for as long as the United Kingdom is a member of the European Union, companies and organisations in the UK have the right to apply for funding or financing under new calls or programmes.
Should the UK government notify its decision to cease membership of the EU, the process and negotiations would last several years. During this time, the UK would still be a member of the EU and UK companies and organisations have the right to apply for funding, financing and support from all EU programmes.
“Until this process of negotiations is over, the United Kingdom remains a member of the European Union, with all the rights and obligations that derive from this. (…) EU law continues to apply to the full to and in the United Kingdom,” said Jean-Claude Juncker, President of the European Commission