The Danish Energy Agency has launched Denmark''s largest procurement procedure for offshore wind power, marking a significant step towards the country''s green transition. This ambitious initiative aims to establish a minimum of 6 GW of offshore wind power by 2030, potentially increasing Denmark''s off
Denmark has struggled to attract bids to construct new offshore wind farms. Seeking to boost flagging investment in offshore wind power, Denmark’s government on Monday announced aid of up to 55.2 billion kroner ($8.3 billion) with a new call for tenders.
According to Danish offshore wind developer Ørsted, offshore wind has an “unfavorable risk-reward balance.” Analysts attribute Denmark’s lack of bids in its recent offshore wind energy to a rigid auction system, an inability to adjust to shifting economic conditions, and heightened competition.
Denmark’s own target is to reach 14 gigawatts of offshore wind capacity by 2030. Denmark’s disappointing outcome in its offshore wind lease auction is part of a wider trend of setbacks in Europe’s offshore wind bidding.
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