POWER: Europe to Fall Short of Offshore Wind Targets

Industry group WindEurope said Europe is on track to reach 70GW of offshore wind capacity by 2030, well below the target of 120GW. 

• European offshore wind capacity is currently at 37GW.
• The reasons for the slow buildout are different in each country, but the most common reason is a weakened business case for new offshore wind capacity.
• The industry group is calling for a new deal for offshore wind including government commitments to specific annual capacity targets between 2031 and 2040 of 15 GW of new installations per year, and 10GW per year to be backed by CfDs.
• The energy ministers of the North Seas countries are scheduled to meet in Ostend on Friday to discuss how they can strengthen cooperation on offshore wind.