The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Chancellor Angela Merkel’s government is bowing to industry pressure to boost Germany’s offshore wind capacity, already among the biggest in Europe. The government will assess how to boost offshore capacity to 20 gigawatts by 2030 from a planned 15 gigawatts, according to details in an energy law passed by the parliament.
The administration in Berlin has steadfastly blocked pressure to raise its current target from 2015, saying that extra grid capacity is needed on land to take more power generated at sea.
But the details in the 162-page statute show it’s now relenting and open to increasing the size of tenders.
The BWO industry group that represents offshore developers including Siemens Gamesa Renewable Energy SA, Orsted A/S and Iberdrola SA argues that more offshore wind power is needed to meet a German target of having 65 percent of the nation’s power mix made up of green electricity by 2030. That share is about 38 percent today.
Offshore wind parks are being built in the German North Sea and Baltic in record time and developers have twice won auctions that are subsidy-free, underlining its increasing competitiveness.
The nation had 5.3GW of offshore power online by the end of last year.