WindEurope has committed to deliver a 30% decrease in production costs based on political commitments made at the summit.
EnvironmentEuropean Union
- Omissions
- The 30% cost reduction commitment specifically applies to offshore wind, not all wind production costs
- The baseline for the reduction is 2025 levels and the target year is 2040
- The commitment was made by the offshore wind industry as a whole, represented through WindEurope, rather than WindEurope as an organization itself
- This was part of a reciprocal 'Offshore Wind Investment Pact' where governments also made commitments
- The cost reduction is expected to be achieved through scale effects, lower capital costs and other efficiencies
- Sources
- PrimaryWindEuropeEurope's offshore wind industry pledges to drive down costs of offshore wind by 30% towards 2040 compared to 2025 levels
- PrimaryWindEuropeThe industry commits to reduce the costs by 30%. The North Seas Heads of Government Summit in Hamburg in January is the perfect moment to agree on that New Deal
- SecondaryOffshore Wind BizOn the industry's side, the commitment is to drive down the costs of offshore wind by 30 per cent towards 2040
- SecondaryWindTech InternationalThe offshore wind industry committed to reducing costs by 30 % by 2040 compared with 2025 levels