Heads of state from Denmark, the Netherlands, Germany and Belgium have together with the President of the European Commission signed a deal for increasing offshore wind capacity in the North Sea tenfold to 150GW by 2050.

This would be enough to supply approximately 230 million European households with green power and will require investments to the tune of EUR 135bn.

The news bodes well for players in the wind industry, including Danish utility Ørsted whose Chief Executive Officer, Mads Nipper, warns, as he has done on previous occasions, against governments focusing solely on price in upcoming tenders, writes Danish media Berlingske.

”At a time when the supply chain for offshore wind has to make huge investments to meet the high ambitions, EU member states should design auctions in such a way that prices for marine areas are affordable and that you avoid concession payments with no cap, which would increase pressure on the supply chain further,” states Nipper in an email to Berlingske.

In light of the fact that out of most major turbine makers, it was virtually only Vestas that was able to turn a profit, and a shrinking one at that, in 2021.

Historic push: European quartet to ramp up offshore wind capacity in North Sea tenfold

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Carriers and investors predict major investments with large offshore wind plan: ”We need to get started now”

”It’s more a question of whether we need a bigger order book”