Europe is seeking to accelerate offshore wind deployment to deliver homegrown and secure renewable electricity at scale.
Industry and governments are meeting at WindEurope Annual Event 2026 in Madrid to turn commitments made at the North Sea Summit into action, WindEurope said.
Leaders agreed to contribute to building 15GW of offshore wind annually from 2031 to 2040, with at least 10GW supported by two-sided Contracts for Difference, it added.
Offshore wind is positioned as a scalable and cost-effective solution to reduce reliance on imported fossil fuels and shield Europe from geopolitical risks.
The European wind industry has committed to cutting offshore wind costs by 30% by 2040 compared with 2025 levels through lower financing costs and faster industrialisation.
Europe is expected to build 70GW of offshore wind capacity by 2030 against a previous target of 120GW due to auction design challenges and investment uncertainty.
“At the North Sea Summit in January leaders committed to an accelerated and more consistent expansion of offshore wind. Europe has no time to waste, making this commitment a reality,” said Tinne van der Straeten, WindEurope chief executive.
“Offshore wind helps lower electricity costs for households and businesses. And it shields Europe from geopolitics and fuel price swings.”