The participating states have adopted concrete measures. A particular focus was placed on strengthening regional coordination and financing the expansion of offshore wind farms and the associated electricity grids. By increasing the construction of the so-called “cooperation projects”, existing sites can be used more efficiently, costs can be reduced and the resilience of the energy system improved. “Cooperation projects” are offshore wind farms connected to the grid of more than one country, as well as offshore wind farms connected from the Exclusive Economic Zones (EEZs) of other countries. In concrete terms, the North Sea countries have agreed on connecting up to 100 GW of generation capacity across borders by 2050.
In a joint investment pact between the North Sea countries, the offshore wind industry and the transmission system operators have agreed on measures to realise the shared vision of the North Sea region as the world’s largest hub for clean energy. In particular, the North Sea countries aim to establish a clearly planned pipeline of offshore wind auctions reaching beyond 2030, thus providing the wind energy and grid industry with planning and investment certainty. Based on this, the industry commits to reducing electricity production costs by 30% by 2040, investing €9.5 billion in new manufacturing capacities in Europe by 2030, and creating 91,000 additional jobs.
The outcomes of the summit are available for download here. The outcomes include intergovernmental summit declarations at various levels, agreements on cooperation projects with the North Sea States, and an agreement with the industry.
© BMWE
