EC urged to fund more ship building for offshore development

EUROPE: Corporations and European shipyards are urging the European Commission (EC) and the European Investment Bank (EIB) to encourage the building of new ships to serve the region's expanding offshore wind sector.

EC urged to fund shipbulding for offshore development
EC urged to fund shipbulding for offshore development

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Investment in new ships totalling €2.4 billion are needed to install the annual build of thousands of offshore wind turbines, substructures and cables.

The European Wind Energy Association (EWEA) and the Community of European Shipyards' Association are calling on the EC to develop programmes and funding mechanisms to spur investments in ships, and on the EIB to support the risk related to the investment.

They also argue that offshore wind should be identified as a key industry in the EU's 2020 strategy for green growth.

"From 2020 we will see 40,000MW per year built offshore," says Eddie O'Connor, CEO of Mainstream Renewables and EWEA secretary.

He adds, "This will require ten to twelve new heavy lift vessels, other vessels for transporting foundations, towers, nacelles and blading systems. New ports will have to be built across Europe."



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