Denmark launches its largest offshore wind tender, offering 10 GW capacity without subsidies to meet 70% CO2 reduction target by 2030.
Denmark has launched its largest offshore wind tender to date, offering no subsidies to companies competing for the right to erect turbines on six sites with a combined capacity of up to 10 GW. The wind farms, planned for completion by 2030, are crucial for Denmark to meet its target of reducing CO2 emissions by 70% from 1990 levels by the end of this decade. Participants must offer the price they are willing to pay to the state over 30 years to win the right to establish the wind farms, with the state owning a 20% stake in each tendered project. The cost of building 1 GW of offshore wind is approximately $2.3 billion, and Denmark currently has a total of 2.7 GW of offshore wind installed.
April 22, 2024
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