EU to scale up offshore wind capacity to 300 GW by 2050

The European Union (EU) aims to increase offshore wind capacity from the current 12 gigawatts (GW) to at least 60 GW by 2030 before further expanding to 300 GW by 2050, according to the EU's strategy on offshore renewable energy issued on Thursday, reported Xinhua.

By 2050, an additional renewable capacity of 40 GW related to ocean energy and other emerging technologies such as floating wind and solar will be added as well to help meet the EU's goal of climate neutrality.

To meet the proposed objectives requires an overall investment of nearly 800 billion euros, according to the EU's estimate, while the private sector will contribute to most of the investment.

The strategy on offshore renewable energy sets a clear direction and establishes a stable framework, which are crucial for public authorities, investors and developers in this sector, said European Commissioner for Energy Kadri Simson.

"We need to boost the EU's domestic production to achieve our climate targets, feed the growing electricity demand and support the economy in its post-COVID recovery," she added.

For the EU, offshore renewable energy is essential, as the bloc strives to become the first climate-neutral continent by 2050, a goal set in the Green Deal unveiled last December, while other countries and regions have since followed similar paths.

As an ambitious climate target announced in September, China aims to have CO2 emissions peak before 2030 and achieve carbon neutrality before 2060.