EU Commission aims to increase offshore renewable capacity to 340 GW by 2050

The European Commission (EC) has released its strategy to boost progress towards achieving the European Union’s climate neutrality target by 2050. As per the proposal, the commission plans to increase Europe’s offshore wind capacity from its current level of 12 GW to at least 60 GW by 2030 and 300 GW by 2050. The EC aims to complement this with 40 GW of ocean energy, floating wind and floating solar capacity by 2050. An estimated investment of $950 billion will be required over the next 30 years to meet this target.

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