The European Commission on Thursday unveiled the “EU Strategy on Offshore Renewable Energy”, which proposes to increase Europe’s offshore wind capacity from the current level of 12 GW to a level of at least 60 GW in 2030 and 300 GW by 2050, informs a release of the Community Executive.

In addition, the Commission aims to supplement this capacity by 20 GW by 4050 from ocean energy, but also from energy produced using other emerging technologies, such as wind turbines and floating solar panels, according to Agerpres.

According to the EU Executive, increasing Europe’s offshore wind capacity will create new opportunities for industry, generate green jobs across the continent and strengthen the EU’s position as a world leader in offshore energy technologies. It will also ensure the protection of the EU’s environment, biodiversity and fisheries.

“Today’s strategy demonstrates the urgency and opportunity of stepping up our investment in offshore renewable energy sources. Thanks to its vast sea basins and industrial leadership, the European Union has all the strengths to meet the challenge. Exploiting energy from offshore renewable energy is already a real european success story,” said EC’s Vice President, Frans Timmermans.

“This strategy sets a clear direction and establishes a stable framework, which is essential for public authorities, investors and developers in this sector. We need to stimulate EU domestic production to meet our climate goals, to meet growing demand and to support the recovery of the economy following the COVID pandemic,” also said Energy Commissioner Kadri Simson.

To promote the expansion of offshore energy capacity, the Commission will encourage cross – border cooperation between Member States on long – term project planning and implementation. This will require the integration of offshore renewable energy production development targets into national maritime spatial plans to be submitted to the Commission by coastal states by March 2021. The Commission will also propose a framework for under the revised TEN-E Regulation for the long-term planning of the offshore network, involving regulators and Member States in each sea basin.

In order to achieve the proposed objectives, the Commission estimates that investments of almost EUR 800 billion will be needed by 2050. In order to help generate and mobilize these investments, the Commission will ensure clarity of the legal support framework, help mobilize all relevant funds for support the development of the sector and ensure a strengthened supply chain.