EnergyWatch

At least EUR 43bn to hit Baltic wind target by 2030

It will take investments amounting to billions of euros to realize the ambitious offshore wind power plans in the North Sea and the Baltic. According to Clarksons, the need for jack-up installation vessels will double before 2030.

Photo: RWE Renewables

The cost of installing offshore wind power amounts to approx. EUR 2.5m per megawatt (MW). Multiply that by the planned 17,200 MW increase of wind power capacity in the Baltic Sea, and you will reach the approximate sum required to carry out the ambitious expansion plans.

The result is EUR 43bn over an eight-year period. And that may even be an optimistically low estimate, says Jens Egenberg, divisional director of Offshore and Renewables at Clarksons, who notes that, historically, the cost has been EUR 3-4m per MW.

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