Germany, Denmark, Netherlands and Belgium sign €135 billion offshore wind pact

(EurActiv, 19 May 2022) Heads of government from the North Sea countries met in the Danish town of Esbjerg on Wednesday (18 May) to sign a cooperation agreement on offshore wind development and green hydrogen. They will target at least 65 GW by 2030 and 150 GW by 2050.

In a joint declaration, the North Sea countries state their intention of becoming the “Green Power Plant of Europe”.

The North Sea’s reliable winds, shallow waters, and proximity to industrial centres that are big consumers of electricity, makes it a perfect fit for the installation of offshore wind farms.

“Today’s agreement by the energy ministers is an important milestone in cross-border cooperation. It is the basis for the first real European power plants that also generate electricity from renewable energies,” explained Germany’s Vice-Chancellor Robert Habeck.

“Together with our partner countries, we can expand offshore wind energy in the North Sea region even faster and more efficiently and tap new potential for green hydrogen,” he said, adding that this would “further reduce our dependence on gas imports.”

The agreement aims for a tenfold increase in offshore wind power capacity in the region, with total investments from the private sector expected to reach €135 billion. In the end, this figure could be even higher, as the European Commission estimated a total of €800 billion in offshore energy investment was necessary to reach the EU’s 2050 target.

External link

EurActiv, 19 May 2022: Germany, Denmark, Netherlands and Belgium sign €135 billion offshore wind pact