New EU wind capacity in 2024 less than half needed for climate target, says industry group Reuters
LONDON (Reuters) – Wind power provided 20% of electricity consumed in Europe last year, but the capacity built during the year was less than half of what is needed to meet the European Union’s energy and climate targets by 2030, industry group WindEurope said. . Friday.
WHY IT’S IMPORTANT
Wind has been a growing part of Europe’s electricity generation for more than 20 years, and the European Union wants it to grow much more to meet targets in the fight against climate change and also to reduce dependence on fossil fuels.
BY THE NUMBERS
Europe built 15 gigawatts (GW) of new wind power last year, including 13 GW of offshore wind and about 2 GW of onshore wind, according to WindEurope’s preliminary data for 2024.
European Union countries account for 13 GW of that, but to meet their 2030 climate targets, the 27-nation bloc would need to build 30 GW of new wind farms a year.
The EU wants wind energy to account for 34% of consumed electricity by 2030 and more than 50% by 2050.
CONTEXT
The global offshore wind industry in particular has faced several years of challenges due to infrastructure, grid connectivity and logistics issues, permitted delays and higher component costs.
Investments in offshore wind farms in Europe have declined and it remains challenging for companies to make final investment decisions, WindEurope said.
KEY QUOTATIONS
“Europe is not building enough new wind farms. For 3 main reasons: a) most governments do not apply good EU permitting rules; b) new grid connections are late; c) Europe is not electrifying its economy fast enough,” said WindEurope CEO Giles Dickson.
