Winds of opportunity

In 2023, energy-related CO2 emissions reached an unprecedented level of 37.4 billion tons. Without the increased deployment of renewable energy sources, this rise would have been even greater. To meet the projected doubled electricity demand by 2050 without amplifying climate change, energy production must continue to be decoupled from CO2 emissions. Accelerated renewable energy production, such as offshore wind, is essential for this to become a reality.

The offshore wind industry in Scandinavia is particularly well-positioned for substantial growth through export, driven by a commitment to renewable energy production and current industry presence as both project developers and supplier. This study, as a joint effort by Capgemini Invent, Energy Valley and Energy Cluster Denmark, underscores the current competitive advantages of each Scandinavian country and how their complementary industries could be integrated to enhance their global standing. Sharing ambitious renewable energy targets and commitments, leveraging strong capabilities across the offshore wind value chain, knowledge sharing, cooperation, and joint efforts could facilitate export to the global market, and ultimately facilitate the required green energy production.