International Finance
Energy Featured

Denmark to establish wind energy project in North Sea

The project will be carried out by the government and private companies, with the former holding a majority stake

The Danish government is betting on wind energy developments as it will establish an artificial island in the North Sea comprising a wind energy hub. The development expects to cater to the energy needs of 10 million European households and is part of Denmark’s ambitions to slash emissions and contribute towards climate goals set by the European Union.

The North Sea island will be established 80 kilometers from the shore of the Jutland Peninsula. The project will be carried out by both the government and private companies where the government will hold a majority stake.

The island will provide green energy to three million households in its first phase and provide green energy to the 10 million households once it is completed and the island is expected to be operational by 2033.

Furthermore, the government plans to turn Denmark into a carbon-neutral economy by 2050 and aims to reduce the usage of greenhouse emissions by 70 percent by 2030 compared to 1990’s levels. The government, last year, unveiled it would stop extracting oil from the North Sea and will cancel the future license of oil refiners who are seeking to extract oil from the sea.

Dan Jorgensen, Danish Minister for Climate, Energy and Utilities, told the media, “The energy hub in the North Sea will be the largest construction project in Danish history. It will make a big contribution to the realization of the enormous potential for European offshore wind, and I am excited for our future collaboration with other European countries.”

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.