Offshore wind has emerged as a key pillar of the European energy transition, but costs still need to go down
1 Green hydrogen
Offshore wind farms can provide huge amounts of green hydrogen, a key requisite of decarbonization goals
2 Deep-water potential
Floating technology can harness winds along deeper coastal waters, and promises even more scope for cheap hydrogen production
3 Cutting costs
Reducing the costs of offshore wind is key to Europe's energy independence and competitiveness, and innovation and industrialization are the best way to do it
4 Innovate and industrialize
European players must act now to fend off competitors and keep the upper hand in the global offshore wind market
Conclusion
Globally competitive green hydrogen and reduced offshore wind costs go hand in hand – and Europe can seize the day