EU Sets New Wind Energy Record in 2023, But still not on track for 2030 Targets

In a noteworthy step towards sustainable energy, the European Union accomplished a significant achievement by incorporating 17 GW of new wind energy in 2023, signaling progress but falling short of the ambitious annual target of 30 GW crucial for achieving the EU's 2030 climate and energy security goals. Leveraging our know-how, expertise in the renewables sector, and industrial approach cultivated over our 85-year history, ERG is eager to assist governments and institutions in unlocking the energy transition process by developing more wind assets in EU.

Wind Energy and Leading Nations.

Out of the impressive 17 GW, 14 GW originated from onshore wind farms, with an additional 3 GW generated from offshore wind farms. Germany led the charge in this green revolution, closely followed by Sweden. ERG, a primary green energy operator driving the international energy transition, proudly contributed on it having a presence in these two countries for approximately 400 MW in wind energy assets.

2030 Targets and the Path Forward.

Despite positive developments, meeting the 2030 targets poses a challenge for the EU. The EU Wind Power Package and European Wind Charter outline strategic measures to boost annual construction, emphasizing the importance of national implementation. Addressing challenges such as streamlining permitting processes, improving auction designs, and providing financial support for manufacturing and infrastructure is crucial.

IEA's Optimistic Projection.

As previously reported, the International Energy Agency has forecasted a promising outlook for European wind energy, estimating the construction of 23 GW of new capacity annually from 2024 to 2028. The anticipated implementation of the EU Wind Power Package is expected to play a pivotal role in strengthening Europe's wind energy supply chain.

Renewable Landscape and Growing Wind Efficiency: the role of ERG.

Wind energy contributed an impressive 19% to the EU's electricity production last year, with renewables collectively accounting for 44% of electricity produced. Noteworthy is the increasing efficiency of wind farms, with onshore capacity factors ranging from 30-48% and a consistent 50% for offshore wind, highlighting the sector's ongoing growth.

We are proud to be part of this revolution and eager to assist governments and institutions in unlocking the energy transition process. Leveraging our know-how, expertise in the renewables sector, and industrial approach cultivated over our 85-year history in the energy sector, we can count on over 3,000 MW in wind and solar assets across the continent and a pipeline of approximately 3,700 MW in wind and solar projects. We are committed to realizing a just and fair energy transition process.