North Sea vital in transformation to low carbon energy system
The North Sea will be a key location for enabling the energy transition of riparian countries such as Germany, the UK and the Netherlands, a new report by the World Energy Council says. “We see a clear opportunity for the North Sea to become a key energy resource and support the energy transformation,” the authors say, arguing that the area will no longer be dominated by oil and gas production by 2050 and instead serve as a location for “substantial renewable production”, primarily due to the development of offshore wind power capacities. The authors estimate that transforming the North Sea’s energy production from fossil to renewable sources will “need a total investment of anywhere between of 390-690 billion euros in the coming decades.”
Read the study in English here.
See the CLEW article Operators to build offshore wind farms without support payments for more information.