The industry reaffirmed its commitment to supply an annual growth of 6 GW in Europe by 2030. At least 4 GW of annual growth would be necessary to realize further cost reductions.
In their declaration, the government representatives recognized that substantial cost reduction has been already achieved, and support a significant expansion by 2030. They also stress the need for further efforts to expand the electricity grid. In addition, they underlined that increased efforts are required to create framework conditions at the European level in order to stimulate investment in offshore projects, grids and infrastructures. The integration of offshore electricity into the market and the establishment of a European energy market will also be promoted.
Huge offshore wind potential at low cost
The enormous potential of offshore wind energy by 2030 is also demonstrated by a recent study conducted by BVG Associates, published by WindEurope. Offshore wind energy could cover between 80 and 180 percent of European electricity demand by 2030, at a cost between 51 and 65 Euro/MWh.