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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ørsted makes group changes again

The Danish power company shakes up its organization once again, now parting ways with offshore wind chief of many years, while also moving other profiles up the corporate ladder.

Ørsted declines Taiwan tender bid

Quite atypically, the Danish market leader publicly rejects to bid in Taiwan’s solicitation for 3GW offshore wind due to poor framework conditions. The green transformation will wilt if developers build uneconomic projects, says CEO.

Last platform now in position at Tyra site

After completing the voyage from Batam, Indonesia, the process module is now in position in the North Sea. Only one piece is now missing from the reconstruction project at the Tyra site.

Further reading

Related articles

Latest News

See all jobs