Danish energy minister hopes for subsidy-free offshore wind

The Danish energy minister Lars Christian Lilleholt thinks the prices of offshore wind will continue to decline so far that it will plausible to install offshore wind farms without state subsidies. However, the prospect of subsidy-free projects in Denmark prompt institutional investors look toward greener shores.

Photo: Ritzau Scanpix/Liselotte Sabroe

According to the Danish energy minister Lars Christian Lilleholt, offshore wind farms can soon function without state subsidies, reports Danish business daily Børsen.

Lilleholt explains to Børsen that "much of this will occur via market conditions", as the price of renewable energy will continue to decline. He points to the example of offshore wind, the price of which decreased by around 70 percent over a six-year period. Even though the minister would like to see offshore wind function on market conditions, he is aware lacking price assurances would entail uncertainty for investors.

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