Industry body WindEurope has welcomed the launch of tripartite contracts to accelerate the build-out of offshore wind.
At an informal meeting, EU Energy Ministers launched the concept of tripartite contracts to help Europe’s industry electrify with clean energy. The EU wants the first of these contracts to focus on offshore wind and grids.
WindEurope welcomed the move but is also urging governments to commit to building 15GW of offshore wind per year.
In a statement, WindEurope said: “Many large industrial companies are already signing power purchase agreements (PPAs) with offshore wind farms.
“Government support to help unlock such investments, which is what tripartite contracts envisage, is essential to deliver the volumes needed – both of new offshore wind farms and investment in industry electrification.
“And government support is needed on many fronts. To simplify the permitting of new wind farms and factories. To accelerate the build-out of the power grids needed for electrification. And to strengthen the business case for investing in new wind and in cleaner, more electric, industrial processes.
“A key element of this business case is clear visibility from governments on the volumes of new wind they want and when they’re going to auction them. And certainty from governments that the volumes are going to be big enough.
“To that end the offshore wind industry is calling for a New Deal on offshore wind – where governments commit to build 15GW a year of new offshore wind from 2031 to 2040, and on the back of that, the industry commits to reduce the costs by 30%.”