North Sea Countries Determined to Make the Region a Clean Energy Hub

Energy ministers from the 9 nations dubbed the North Seas countries have reaffirmed their commitment to transforming the region into Europe’s renewable energy hub. Speaking at the just-concluded North Seas Energy Cooperation (NSEC) ministerial meeting held in Odense, Denmark, the Energy Ministers gave the new Europe Commission recommendations on how it can support this goal.

The recommendations particularly focused on the need to bolster the continent’s supply chain for wind energy. Despite Europe’s significant potential for offshore wind energy, most of its green energy capacity is generated from solar farms. The energy ministers also discussed the need to create new financing facilities for offshore wind and deploy hybrid offshore wind farms on a cost-sharing formula as soon as possible.

Furthermore, they noted that it would be important to involve the United Kingdom (UK) in all these efforts. A joint declaration by the Energy Ministers of Denmark, Belgium, France, Luxembourg, Norway, the Netherlands, Ireland, and Germany also outlined six critical areas for collaboration among the 9 North Sea nations. This includes the competitiveness of the offshore wind supply chain in Europe as well as the need for new models of offshore wind financing.

According to WindEurope, the region needs a different strategy for planning offshore wind. The trade body also said supply chain planning wouldn’t be enough to handle the influx of offshore wind capacity being installed in the 9 North Sea countries. As a result, WindEurope noted, international coordination and cooperation will be necessary to develop new, larger factories.

A robust supply chain in Europe will be a prerequisite for the development of a broader offshore wind energy sector, the trade body added. Expanding the region’s offshore wind power capacity would significantly boost its green energy output and bring it one step closer to becoming Europe’s green energy hub.

The recommendations also called for a digital transparency tool to ensure visibility throughout the entire wind power value chain. The transparency tool would act as an overview of manufacturing capacities, auction schedules, port capacities, and equipment requirements in the North Sea countries. In the future, all of Europe (including Norway and the UK), will be covered by the tool as the NSEC recommendations recommended a more constructive and effective cooperation between NSEC and the UK.

Unfortunately, WindEurope noted, supply chain bottlenecks in port infrastructure, availability of service vessels, offshore wind installation, and skilled workers, as well as the reinforcement and expansion of offshore grid connections, remain.

As this group of countries implements its green energy plans, electric vehicles like those commercialized by Mullen Automotive Inc. (NASDAQ: MULN) will be a great addition to their markets since these zero-emission vehicles can help in the attainment of the countries’ net-zero goals.

NOTE TO INVESTORS: The latest news and updates relating to Mullen Automotive Inc. (NASDAQ: MULN) are available in the company’s newsroom at https://ibn.fm/MULN

About GreenEnergyStocks

GreenEnergyStocks (“GES”) is a specialized communications platform with a focus on companies working to shape the future of the green economy. GreenEnergyStocks is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, GES is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, GES brings its clients unparalleled recognition and brand awareness. GES is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from GreenEnergyStocks, text “Green” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.GreenEnergyStocks.com

Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer

GreenEnergyStocks
Los Angeles, CA
www.GreenEnergyStocks.com
310.299.1717 Office
[email protected]

GreenEnergyStocks is powered by IBN

Archives

Select A Month

Contact us: (310) 299-1717