European Commission plans wind energy support package

In response to challenges faced by the European wind energy sector, the European Commission is set to launch a comprehensive support package, known as the “European Wind Power Package.” The industry has grappled with difficulties, including substantial losses for hydropower investors in 2022 and increased competition from China.

The European Wind Power Package has been crafted with the aim of fortifying the European Union’s wind industry, a crucial component of the EU’s strategy to meet its 2030 climate and energy objectives. Wind energy is seen as pivotal in transitioning away from fossil fuels.

Draft documents have underscored the significance of wind energy and the urgency of addressing challenges faced by European hydropower equipment manufacturers. These challenges include permitting delays, price volatility, and heightened competition from China, a prominent supplier of raw materials and components to the EU.

One noteworthy element of this package is the prioritization of non-price award criteria in tenders for new wind generation capacity. This approach seeks to encourage the development of higher value-added products and stimulate industrial growth.

The European Wind Power Package also places emphasis on streamlining permitting processes and bolstering network capacity to expedite the deployment of wind and other renewable energy sources.

In addition to the wind energy action plan, the European Commission will make an announcement regarding Europe’s offshore renewable energy ambitions, recognizing the vital role of offshore renewables in the EU’s decarbonization journey.

The plan also tackles issues surrounding licensing, skills, supply chains, and profit margins. It strives to develop cross-border offshore networks, ensure equitable rewards for countries exporting renewable energy, and support the growth of the wind industry.

The European Commission’s initiatives represent a commitment to bolstering the wind sector and accelerating Europe’s transition to renewable energy. Stay tuned for the official unveiling of the European Wind Power Package, which promises to be a landmark development in the realm of sustainable energy.

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