As part of this effort, the countries have launched a new collaborative network to drive technology innovation and intensify ocean energy development.

The Ocean Power Innovation Network (OPIN) is led by three state bodies including the Sustainable Energy Authority of Ireland (SEAI), Invest Northern Ireland and Scottish Enterprise.

The network will focus on collaborative initiatives, knowledge sharing, applied learning and creative thinking in ocean energy technology development.

Companies with ocean energy projects include OpenHyrdo, which plans to develop a commercial scale 100MW tidal energy array in waters off Northern Ireland's coast.

SEAI emerging sectors head Declan Meally said: “The coasts of Ireland and Scotland have an abundant supply of ocean energy.

“Pooling resources, knowledge and experience between us and collaborating outside of the ocean energy sector means we can bring best practices together to drive development in ocean energy. 

“The countries that can innovate in this space, with regard to both technology and its interaction with the natural and the human environment, will have a real advantage globally and we want to ensure that Ireland is at the forefront in achieving its potential and maximizing our renewable resources.”

The network also plans to share knowledge with representatives from the oil and gas industry.

Scottish Enterprise marine energy and low carbon technologies senior manager Jan Reid said: “This initiative allows Scotland and Ireland to come together to build a strong value chain for marine energy, in addition to existing collaborations, and encourages companies to share and learn from well-established industries to accelerate their development towards future sustainable success.”

Ireland, Northern Ireland and Scotland are already working together on ocean energy initiatives including the all-island Marine Renewables Industry Association and the OCEANERA-NET group of agencies.