Denmark has reached a historic deal on the development of a North Sea energy hub. The energy hub will be an artificially built island 80 kilometers from the shores of the Jutland Peninsula.
That would be the property of a public-private partnership. The hub will improve the convergence of Europe’s energy grids and increase the production of renewable electricity required for a climate-neutral Europe.
Denmark has introduced a cut-off date of 2050 for oil and gas exploration in the North Sea and has canceled all future licensing rounds. Denmark is taking another important phase in the green revolution by deciding on the creation and ownership of the world’s first energy hub in the North Sea.
The energy hub can generate yet unseen volumes of renewable electricity and is one of the government’s flagship initiatives for the green transformation in Europe. It would be enough to cover the consumption of 10 million European households entirely implemented.
“This is truly a great moment for Denmark and for the global green transition. This decision marks the start of a new era of sustainable energy production in Denmark and the world and it links very ambitious climate goals with growth and green jobs.The energy hub in the North Sea will be the largest construction project in Danish history. It will make a big contribution to the realization of the enormous potential for European offshore wind, and I am excited for our future collaboration with other European countries.”Dan Jørgensen, Danish Minister for Climate.
The energy hub will act as an offshore power plant that generates and distributes renewable electricity from hundreds of wind turbines across the island directly to customers in the countries surrounding the North Sea. The island is planned to have a gross area of at least 120,000 square meters and will be able to supply renewable electricity to 3 million European households in its first phase.
The scheme will be a public private partnership between the Danish state and private corporations. The State will own the bulk of the island, but private investors will be essential for the project to achieve its potential in terms of creativity, versatility, cost-effectiveness and market potential.
“We are at the dawn of a new era for energy. Last year, Denmark set a cutoff date for fossil fuel extraction. Today we are taking a decisive step toward a clean energy future. The EU has set a goal to achieve climate neutrality by 2050 and the Commission has set a target of 300 GW offshore wind energy in order to attain this goal. By constructing the world’s first energy hub with a potential capacity of 10 GW, Denmark significantly contributes to this ambitious target. Not only by dramatically expanding renewable energy production, but also by supplying our European neighbors with an abundance of renewable energy.”Dan Jørgensen, Danish Minister for Climate.
The artificial island will provide the best ways to extend the scheme, such as the development of a port and the storage and conversion of renewable energy from nearby wind turbines in the sea. It is a long-term ambition to be able to store green energy on the island, turn it into liquid green fuel and export it through subsea cables to Denmark and neighboring countries.