The North Sea is to become one of the key regions for supplying Europe with green electricity and green hydrogen in the future. Seven EU countries plus Norway and the UK today agreed in Ostend, Belgium, that by 2050 they want to generate 300 gigawatts (GW) of electricity annually from offshore wind.
The target of 120 GW should be reached 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 on the high seas, on which green hydrogen can be produced immediately with green electricity.
Investment decisions for European offshore wind farms had recently declined because developers were struggling with high inflation, rising interest rates and confusing energy markets. Scholz emphasized that the summit decision now gives companies planning security.
