Offshore Renewable Energy Strategy

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Memo ta’ informazzjoni: Offshore Renewable Energy Strategy

Practical information

  • Composition of Study Group
  • Administrator: Maria Chiara TURCHI, Assistant: Baiba SPUNDE
  • Foreseen for the TEN Section meeting: 14 April 2021
  • Foreseen for the EESC Plenary session: 27-28 April 2021

Gist of the Commission document

Offshore renewable energy is one of the most promising routes to increase future power generation in the coming years in a way that meets Europe’s decarbonisation objectives and expected rise in electricity demand in an affordable manner. Europe’s oceans and sea basins hold a vast potential, which can be harnessed in a sustainable and environmentally sound way, complementing other economic and social activities.

The Communication proposes an EU strategy to make offshore renewable energy a core component of Europe’s energy system by 2050. This requires taking a diversified approach tailored to different situations. Therefore, the strategy presents a general enabling framework, addressing barriers and challenges common to all offshore technologies and sea basins but also sets out specific policy solutions adapted to the different state of development of technologies and regional contexts. Every sea basin in Europe is different, and has different potential due to each specific geological conditions and the specific stage of offshore renewable energy development. Therefore, different technologies suit different sea basins.

Given the long lead time of offshore renewable projects (up to 10 years), this strategy sets out a strategic direction and the accompanying conditions at a crucial juncture to ensure that offshore renewable technologies can make a difference for achieving the climate objectives for 2030 and 2050. This also comes at a moment when the NextGenerationEU recovery fund provides a unique opportunity to mobilise public capital to offset the risk that private offshore investment slow down due to COVID 19 crisis.