Almost all European Union member countries, along with approximately 300 companies and industry groups, have committed to advancing plans for a significant expansion of wind farms and the associated local industries required for their development. This collective effort is in response to the European Commission's October announcement outlining support for the wind energy sector, which must undergo substantial growth to achieve the EU's ambitious goal of sourcing 42.5% of energy from renewable sources by 2030, nearly doubling the current share.
On Tuesday, all EU member countries, with the exception of Hungary, pledged to implement the European Commission's recommendations. These include modifications to renewable energy auctions, introducing criteria beyond price considerations, such as cybersecurity and labor standards, potentially providing local manufacturers with a competitive advantage.
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Hungary did not join the agreement, citing an “ongoing national legislative procedure” without providing further details, according to a spokesperson for Hungary's EU representation.
Governments also committed to increasing investments in local manufacturing capacity for wind turbines and related components. This move aims to address challenges faced by the wind energy sector, including operating losses reported by Europe's major turbine manufacturers in the previous year. The industry has expressed concerns about its ability to expand rapidly enough to meet green power targets, citing factors such as high interest rates and escalating supply chain costs.
Ingrid Reumert, a senior vice president at Orsted, the world's largest offshore wind developer, welcomed the governments' commitment, emphasizing that overcoming roadblocks to building 30 GW of wind capacity annually until 2030 would require individual efforts by EU countries.
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As part of the agreement, EU countries will also investigate potential unfair trade practices in foreign wind product manufacturing. This scrutiny is prompted by the increased competition faced by local firms, particularly from China, in the wind energy sector.
