Europeans leading offshore wind boom

Insights — December 2020

The European Commission announced a plan for investment in offshore wind of unprecedented magnitude

The European Commission unveiled its strategy to spend nearly US$1 Trillion in offshore wind capacity, increasing its current level of 12GW to at least 60GW by 2030 and to 300GW by 2050.

The Commission aims to complement this with 40GW of ocean energy and other emerging technologies such as floating wind and solar by 2050.

We believe this is a major signal to the rest of the world from the undisputed leaders in offshore renewable energy. As a result, we expect considerable advancements to technology and renewable energy capabilities (including investment frameworks) to lower the barriers for other regions making similar investments in the years to come.