EU strategy for boosting offshore renewable energy

The European Commission has presented the EU Strategy on Offshore Renewable Energy to help achieve Europe’s goal of climate neutrality by 2050. The plan outlines ambitious measures to increase offshore energy production and defines the key role research and development will have.

THE STRATEGY:

The strategic plan aims to increase Europe’s offshore wind capacity from its current level of 12 GW to at least 60GW by 2030 and to 300GW by 2050. By 2050, the EC will also complement this with 40 GW of ocean energy, floating wind and solar.

The targets are estimated to require €800 billion investment for the next 30 years. The ambitious growth is expected to:

create new job and business opportunities,
strengthen the EU’s global leadership in the offshore energy technologies,
protect the environment, biodiversity and fisheries.

RESEARCH & DEVELOPMENT:

According to the strategic document, boosting research and innovation will be critical to large-scale deployment of offshore energy. In the next two years, the EU’s research programme, Horizon Europe, will support the development of new wind, ocean energy and solar floating technology designs, improve the efficiency of offshore wind energy systems, and work on making their components recyclable.

In addition, the Innovation Fund will also invest in research, innovation and demonstration projects. The EC will also encourage member states to use EU’s €750 billion recovery fund for financing offshore energy projects.

NEXT STEPS:

To achieve the targets, the EC will provide a clear and supportive legal framework and ensure a strengthened supply chain. Apart from mobilizing all relevant funds to support the sector’s development, the strategy also seeks to:

Launch a new Strategic Energy Technology (SET) plan group on HVDC. The plan will define the principles for development, transfer, and uptake.
The EC will also review existing SET plan targets for ocean energy and offshore wind.