The European Network of Transmission System Operators for Electricity (ENTSO-E) has published its first-ever Offshore Network Development Plan (ONDP), which highlights the investments needed to connect offshore wind parks to final consumers in the EU. To meet the current European plans, the ONDP estimates a total investment requirement of €400bn, in order to build up to 54,000 km of offshore transmission assets in European waters by 2050.
The European Commission has set a target of building at least 60 GW of offshore wind capacity by 2030 and 300 GW by 2050 as part of its 2020 offshore renewable energy plan. According to ENTSO-E, EU countries currently have up to 354 GW of offshore renewables in the project pipeline by 2050, a capacity that goes up to 496 GW when including Norway and the UK. To reach this level, Europe would need to add 22 GW per year of new offshore capacity between 2024 and 2040 and 11 GW per year between 2040 and 2050, a much faster pace than during the last decade (around +2.5 GW/year).
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