19 November 2020 #EUGreenDeal This EU Strategy will: set ambitious targets for the growth of the offshore renewable energy sector encourage public and private investment in new infrastructure and research make it easier for different regions to work together more efficiently provide a clear and stable legal framework The EU is raising its climate targets for 2030 and is committed to becoming climate-neutral by 2050. Renewable energy will play an important role in reaching this higher ambition – including the generation of more energy at sea and from the sea. The EU is already a world leader in offshore renewable energy production and technologies. And there is potential for further development in a cost-effective way. The European Commission’s Offshore Renewable Energy Strategy will help to make this happen and maintain the EU’s leadership in this sector. 1991* 2010** 2030Today 2050 Average power capacity of offshore wind turbine 0,45MW 3MW 7,8MW 12GW ≥60GW 300GW 13MW ≥1GW 40GW How it started, how it’s going, what’s the future Offshore Renewable Energy Strategy * First offshore wind farm: Vindeby, Denmark. ** Including UK EU offshore wind energy capacity Ocean energy capacity (e.g. wave, tidal) 3GW 3,8MW 5MW Offshore Renewable Energy is good for Europe’s economy, environment and society Main elements of the strategy Investment Encourage the necessary investment to effectively develop offshore renewable technologies - estimated at almost €800 billion between now and 2050 Increase certainty for investors and smooth the path for investments, ease bottlenecks, and find the best combination of public and private finance Regional Cooperation Promote cross-border cooperation, in particular in the North Sea, Baltic Sea, Mediterranean Sea, Black Sea, Atlantic Ocean, and outermost regions and overseas territories Promote a pan-European supply chain involving multiple regions, in coastal and inland areas Enhance maritime spatial planning for a successful large-scale deployment of offshore renewable energy and the sustainable use of our sea space and resources Predictable Legal Framework Promote innovative projects that will ensure a cost-effective deployment of offshore renewable energy Give certainty to promoters and reduce risk for investors Strengthening Supply Chains and Supporting Continuous Innovation Maintain and develop European technological and research leadership Upgrade port infrastructure to support deployment and connection of offshore energy Boost the full industrial value chain in Europe, including skills and labour support ECONOMY • Investment, growth and export opportunities for European industry; • Green jobs for citizens in coastal regions and inland, for example in manufacturing and research; • Reduced dependence on imported energy, including fossil fuels. ENVIRONMENT • Reduction of greenhouse gas emissions; • Increased production of clean and renewable energy; • Protection of the environment and biodiversity. SOCIETY • More affordable energy for European consumers; • A more stable energy supply; • Improved health and wellbeing of citizens through decreased air pollution. Reuse of this document is allowed, provided appropriate credit is given and any changes are indicated (Creative Commons Attribution 4.0 International license). For any use or reproduction of elements that are not owned by the EU, permission may need to be sought directly from the respective right holders. All images © European Union, unless otherwise stated. Icons © iStock – all rights reserved. Print  ISBN 978-92-76-26115-5 doi:10.2833/756349 MJ-03-20-788-EN-C PDF  ISBN 978-92-76-26112-4 doi:10.2833/219143 MJ-03-20-788-EN-N