Europe's wind industry has proposed a new initiative aimed at addressing energy challenges by advancing localized and competitive offshore wind development. The initiative urges European governments to secure at least 100 GW of new offshore wind capacity between 2031 and 2040 through bilateral Contracts for Diference (CfD) auctions. A stable CfD auction mechanism will enhance predictability for installed capacity and revenue, effectively reduce costs, and ensure offshore wind plays a pivotal role in achieving Europe's energy goals. The European wind industry is committed to adding 15 GW of annual offshore wind capacity by 2030 and reducing offshore wind costs by 30% by 2040. Facing challenges such as energy weaponization, industrial competitiveness gapsand decarbonization, Europe views the development of localized and cost-efective offshore wind as a core solution. Over the past decade, Europe's offshore wind sector has achieved significant scale expansion and cost reduction, providing stable power supply for residents and businesses.
Source: In-en
