North Sea Summit [UPSC Notes]

Nine European countries held the North Sea summit in April 2023. In this context, this article explains the North Sea Summit, what countries are involved in it and its significance, for the IAS exam international relations segment.

North Sea Summit

The North Sea summit is participated by several European nations and it aims at boosting the wind energy production in the North Sea.

• 1st edition of the North Sea Summit:
  • It was conducted in 2022 and was attended by Belgium, Denmark, Germany and the Netherlands.
  • In the first summit, it was decided to broaden the cooperation.
• 2nd edition of the North Sea Summit:
  • It was held in 2023 and attended by 9 European countries including Belgium, France, Germany, Ireland, Denmark, the Netherlands, Luxemburg, Norway and Britain.

Aim of the North Sea Summit:

• The summit aims at scaling up wind power generation in the North Sea.
  • The goal is to build enough wind farms in the North Sea so as to produce 130 GW of electricity by the end of this decade.
  • It is also aimed to more than double this capacity to 300 GW, by 2050.
• Why the North Sea?
  • The installation of turbines can be done with relative ease and in large numbers in the North Sea due to its relatively shallow waters.

Main issues involved:

• Lack of mobilization of financing to scale up supply chains:
  • The scale of investment required for Europe to achieve its desired goals is substantial.
  • According to the European Union, it is estimated that the cost to achieve 300 GW in offshore energy production by 2050 would be approximately 800 million euros (equivalent to $900 million).
• Due to the increased demand for wind turbines after the peak of the Covid pandemic, turbine manufacturers face logistical challenges that have resulted in them operating at a loss.
• Recruitment in the sector was also well below where it needed to be.
• Other supply chain bottlenecks:
  • Europe needs to increase its offshore wind energy production capacity by 20 gigawatts (GW) per year. 
  • However, the current capacity of the offshore wind energy sector in Europe is only 7 GW per year.
    • Several supply chain bottlenecks for critical components such as cables, wind turbine housings, and other parts are causing hindrances in the production process.

Offshore Wind Energy Production in European Nations

• With the aim of expanding its capacity to 50 GW by 2030, Britain currently possesses the largest fleet of offshore wind farms producing 14 GW.
• Britain is followed by Germany, the Netherlands, Denmark and Belgium.
• From their existing offshore wind farms, the rest of the countries participating produce less than one gigawatt.

North Sea Summit:- Download PDF Here