Major energy companies sign offshore wind declaration

Monday, 6 June, 2016 - 14:45

Ahead of the Energy Council in Luxembourg on June 6, 2016, 11 energy companies signed a joint declaration stating that offshore wind can be fully competitive with coal and gas by 2025, achieving a cost of 80 €/MWh and below.

On June 6, Energy Ministers from 10 EU Member States signed a Memorandum of Understanding (MoU) and Work Programme to enhance their cooperation on renewable energy, particularly offshore wind. The Ministers of Germany, the Netherlands, Luxembourg, Norway, Sweden, France, Denmark, Ireland, Belgium and the U.K. signed the agreement, which aims to reduce the costs and accelerate the deployment of wind power at sea.

Ahead of the Energy Council, 11 leading energy companies published a declaration to underline the crucial role that offshore wind can play in the European energy system and the commitment the wind energy industry is making to reduce costs. The signatories Adwen, EDPR, Eneco, E.ON, GE, Iberdrola, MHI Vestas, RWE, Siemens, Statoil and Vattenfall declared that with the right build out and regulatory framework the industry is confident that it can achieve cost levels below 80 €/MWh for projects reaching final investment decision in 2025, including the costs of connecting to the grid. This would make offshore wind fully competitive with new conventional power generation.

The signing companies emphasise that the commitment is only possible with a stable, long-term market for renewables in Europe and that policymakers at European and national level must set out clear visions for the industry after 2020 with robust laws. In addition to stable regulation they request regional cooperation on offshore wind between European countries particularly in the northern seas.

WindEurope welcomes the signing of the Memorandum of Understanding by 10 EU Member States in Luxembourg to cooperate on offshore energy in Northern Europe.

Giles Dickson, CEO of WindEurope, said: "The agreement signed in Luxembourg today is a major step forward to fully realise the potential of offshore wind in Europe." He added: "The industry has reinforced the new commitments of the 10 Governments by making its own new commitment on cost reduction for offshore wind. Costs can continue to come down quickly, but the volumes must be right. The main challenge facing offshore wind today is the visibility of market size and regulation after 2020. Clear targets for deployment and tendering will unlock new investments, reduce the cost of capital and allow us to meet the cost reduction target … We now look to the 10 Member States to deliver on the work programme. The industry stands ready to support. Together we can make offshore wind a central piece of a secure, affordable and sustainable energy system in Europe."

WindEurope / Offshore Wind Declaration / Funke

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