The North Sea will become one of the key regions to supply Europe with green electricity and green hydrogen in the future. Seven EU countries plus Norway and the UK agreed today in Ostend, Belgium that by 2050 they want to generate 300 gigawatts (GW) of electricity annually from offshore wind.
The target of 120 GW must be achieved by 2030. Belgian Prime Minister and host Alexander De Croo pointed out that European industry currently only has an expansion capacity of seven GW per year. But you have to come up to 20 GW.
If possible, not only wind farms but also “energy islands” should be built offshore, where green hydrogen can be produced immediately with green electricity.
Investment decisions for offshore wind farms in Europe have slowed recently as developers have been struggling with high inflation, rising interest rates and confused energy markets. Scholz emphasized that the summit’s decision now provides security for the companies’ planning.