Four North Sea countries sign offshore wind pact worth €135 billion 

In a joint declaration signed on 18th May, four North Sea countries agreed to cooperate to develop wind power capacity and green hydrogen

The heads of government from the four countries – Belgium, Germany, Denmark, and the Netherlands – met in the Danish town of Esbjerg to sign the €135 billion offshore wind pact

In the declaration, the countries say they intend to become the “Green Power Plant of Europe”, with targets of at least 65 GW by 2030 and 150 GW by 2050.

The North Sea is close to industrial centres that consume high levels of electricity. It also has reliable winds and shallow waters, making it ideal for offshore wind farms. 

This agreement aims to increase wind power in the region to ten times the current amount. It’s expected that investments from the private sector could reach at least €135 billion.

Germany’s Vice-Chancellor Robert Habeck said in a statement: “Today’s agreement by the energy ministers is an important milestone in cross-border cooperation. It is the basis for the first real European power plants that also generate electricity from renewable energies.”

He added, “Together with our partner countries, we can expand offshore wind energy in the North Sea region even faster and more efficiently and tap the new potential for green hydrogen and further reduce our dependence on gas imports.”

Germany’s Chancellor Olaf Scholz, who is also the former mayor of a North Sea shipping hub also stated: “Using the wind, using the North Sea has a long tradition in our countries.” 

Offshore wind farms can now be built without public funds and aren’t reliant on subsidies, which makes them an attractive option to policymakers.

Additionally, the four countries plan to industrialise the industry further by expanding the necessary infrastructure in the region and focusing on the production of green hydrogen – a rare, premium commodity that’s used to produce carbon-neutral steel and is in high demand. 

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