This was the message of Minister for the Environment, Climate and Communications, Eamon Ryan, for delegates at the 2024 North Seas Energy Cooperation (NSEC) Ministerial Meeting in Copenhagen, Denmark.
NSEC member countries, including Ireland, are working towards the goal of delivering at least 300 gigawatts (GW) of offshore renewable energy by 2050. The North Seas area, with vast offshore wind resources, is considered uniquely positioned to lead in the development of offshore wind and renewable hydrogen.
The NSEC Ministers also put forward a series of recommendations to the new European Commission to help tackle challenges faced by the industry as it looks to deliver its offshore renewable energy ambitions. The EU recently entered a new institutional cycle and set out new political Strategic Agenda for 2024-2029.
The NSEC recommendations include: the need to ensure an integrated and well-functioning energy market across Europe; the establishment of a framework for common planning and to deliver benefits and share costs; solution to de-risk renewable energy and infrastructure projects; the need to strengthen European competitiveness and transparency in the value chain; options for developing offshore renewable hydrogen in the North Seas; and to ensure cooperation across the Nort Seas with all partners.
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Last month, a report prepared by former Italian Prime Minister Mario Draghi on 'The Future of European Competitiveness', stated that to remain competitive, Europe must significantly increase its investment in key sectors, including energy innovation and infrastructure. The former European Central Bank President was tasked by the European Commission to prepare a report of his vision on the future of European competitiveness. The report highlighted that the EU's general investment-to-GDP ratio needs to rise by 5% annually — levels not seen since the 1960s and 1970s — to meet decarbonisation and digitalisation needs.
Speaking as part of a NESC Ministerial panel discussion on offshore wind and renewable hydrogen, Minister Ryan said: "NSEC is already working on much of the analysis contained within the Mario Draghi report on EU competitiveness, but it will be important to build out the financing of renewable energy across the EU, as was recommended in the report.
"To remain competitive on the global stage, it is necessary to ensure a rapid expansion of renewable energy and infrastructure, while leveraging the single market to its fullest extent. These concrete recommendations put forward today will ensure that the North Seas can serve as an important component if improving the EU's clean industrial competitiveness.
"Despite difficult market conditions and challenges, the good news is that renewable energy capacity is at an all-time high in Europe and our capacity to generate renewable electricity is expanding faster than at any time in the last three decades – giving it a real chance of achieving the goal of tripling global capacity by 2030, which governments set at COP28.
"We also know the enormous potential which offshore renewable energy can deliver by way of green jobs across many parts of Europe. Offshore renewable energy and green hydrogen will play a central role in help European countries within the North Seas reach our climate target and decarbonising our societies."
A new multiannual work programme for 2025-2027 was also outlined at today's NSEC Ministerial. The plan outlines activities under four existing NSEC support groups on the following topics: Hybrid and Joint Projects; Maritime Spatial Planning and Ecology; Support framework and finance , including coordinated long-term planning. An additionally a fifth support group will also be created this year, focusing on offshore renewable hydrogen in the North Seas.
