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Energy

Europe plans mammoth expansion of offshore wind farms

BRUSSELS, Nov 19 (Reuters) - The European Union will need to increase its offshore wind energy capacity 25-fold by 2050 to meet its climate change targets, the European Commission said on Thursday.

The 27-country bloc should target 60 gigawatts (GW) of offshore wind by 2030 and 300GW by 2050, up from 12GW today, the Commission said in its offshore renewable energy plan.

The goals would require nearly 800 billion euros in investment. They are not legally binding, but will serve as a basis for future EU energy policies. (Reporting by Kate Abnett, editing by Marine Strauss)

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