Denmark – Danish Minister of Climate Lars Aagaard announced that Denmark’s long-awaited Energy Island in the North Sea will be postponed by at least three years. The project was estimated to cost around $30 billion and finished by 2033.
The Danish government had hoped to secure investment from Belgium for the project, but has now abandoned that effort. The government will now seek to involve Germany as a co-investor, why the Island will now be ready in 2036 at its earliest.
Last year The Danish Energy Agency disclosed the Island needing at least $8 billion in state subsidies to become a reality. Something that came as a surprise, as the project was promised to be build on market terms without state involvement.
The country announced plans for the energy island in 2020 and the project is considered a key part of Denmark’s ambition to develop up to 14 GW of offshore wind capacity by the early 2030s.
Denmark also plans a similar energy island near Bornholm in the Baltic Sea, which is planned for completion in the early 2030s.
