Offshore wind targets are increasing, but are targets and good intentions enough to ensure sufficient build-out towards 2030?

In January 2023, the EU countries agreed to increase the target for offshore renewables to 110 GW by 2030. This is nearly twice as much as the 60 GW target set out in the EU Offshore Renewable Energy Strategy in November 2020. And the ambitions don’t stop there, as EU has targets of around 230 GW by 2040 and up to 350 GW by 2050.

Meanwhile, the North Sea countries are already front-running offshore wind markets, but they are not content merely sitting back and letting the EU set the pace when it comes to offshore wind targets.

The six countries around the North Sea – including the non-EU countries Norway and UK – have combined targets of 120 GW by 2030 and 190 GW by 2040.

OPPORTUNITIES AND CHALLENGES FOR NORTH SEA OFFSHORE WIND

With the newly published report by the UN climate change panel, there is more need than ever for ambitious targets.

However, issues with slow permitting and a squeezed supply chain could threaten the pace of build-out towards 2030.

Are you curious to see how much available capacity remains for the six countries to meet their 2030 targets? Follow Aegir Insights to catch more insights about this as we continue our analysis of the North Sea region.

Reach out for Aegir Insights’ analysis of offshore wind development and opportunities in the North Sea region.