An integrated industry-led approach is the only way to help politicians find the Promised Land of maximising Europe’s renewable energy potential, argues Lloyd’s List’s Global Maritime Lawyer of the Year.
As the dust is settling following the British General Election there has never been a more important time for politicians to demonstrate leadership in the renewable energy sector, particularly in relation to offshore wind.
The sector has been dogged by uncertainty leading to great difficulty in projects going ahead, and the need for international
co-operation has never been greater if Britain and other European countries are to meet carbon reduction targets.
It is therefore critical now that industry is provided with a platform of certainty to proceed with these very capital intensive projects. It is not just a financial issue, but a societal one, and industry must play its role too. The politicians cannot be expected to do it alone.
According to experts sometime between 2040 and 2100 the last gas and oilfields on land and at sea will be exhausted. Alternative sources of energy are essential,
and therefore only a long term strategy can be sustainable for energy production.
To maximise both Europe’s potential and that of each Member State it is paramount to co-operate in relation to our maritime spatial strategy, and to get industry to invest in its potential. To make it work, further interconnectors and a meshed grid in the North Sea, are essential to maximise output.
Using the Netherlands as an individual example, they have accepted a target of 14% of energy consumption from renewable sources by 2020. To achieve this they require 4450 megawatts by 2023.
