The aim of the cooperation is to facilitate the cost-effective deployment of offshore renewable energy, in particular wind, and promoting interconnection between the countries in the region. The cooperation will make this possible by:
- Standardizing and harmonizing rules and demands for offshore wind turbines
- Coordinating the timing for tenders and develop a best practice for the design of tenders
- Promoting economies of scale
- Sharing the newest knowledge on how offshore wind can be established in the most cost-effective way
The potential of the North Seas Energy Cooperation
The North Seas region has great potential for offshore wind generation, and linking these countries via energy infrastructure will create jobs and economic growth throughout the region. The European Commission has estimated that the European Union will need 300 GigaWatt offshore wind power by 2050 to accomplish its target to become climate neutral. It has by experts been estimated that the North Seas has the potential to reach at least half of this.
The cost of offshore wind energy has decreased as the technologies used to generate it have matured. This puts countries investing in offshore wind energy in an ideal position for creating growth and jobs. The North Seas Energy Cooperation has the potential to provide consumers with sustainable, secure and affordable energy.
With the North Seas Energy Cooperation, a harmonization of rules and demands can lead to a reduction in production costs since companies no longer have to adapt to individual needs from every single country, but will be able to produce from one common standard. This can furthermore reduce the price for offshore wind turbines for the good of both consumers and companies.