North Sea needs dramatic windpower expansion to meet European demand – The National
- Date: 04-Nov-2021
- Source: The National
- Sector:Financial Markets
- Country:Gulf
North Sea needs dramatic windpower expansion to meet European demand – The National
Aberdeen is expected to be at the centre of Europe's net zero ambitions as it strives to reach carbon neutrality by 2050, a report by KPMG has revealed.
The Oil and Gas Transition Survey, conducted by the Aberdeen and Grampian Chamber of Commerce’s Research Chamber in partnership with the Fraser of Allander Institute and KPMG UK, is examining how the industry is transitioning to renewables.
It concludes that for Europe to reach climate neutrality by 2050, it will require offshore wind capacity to increase from 23 gigawatts today to up to 450 GW, with half of this capacity to be installed in the North Sea.