Insurance & Pension (I&P) Denmark has teamed up with several organisations to issue a call for a political framework to attract investment in offshore wind, including from pension funds.

Seven organisations in the ‘Offshore Wind 2050 Partnership’ have published a business policy report, calling for the creation of the necessary political framework to fulfil the “enormous potential” of Danish offshore wind.

The report contained several recommendations from I&P Denmark, the Confederation of Danish Industry, Green Power Denmark, Danish Metal, Danish Business, the think tank Hav, and the Hydrogen Industry.

It stated that offshore wind expansion was expected to be primarily driven by the export of green electricity to Germany and the rest of Europe, arguing that Denmark had the opportunity to be the ‘green power centre’ of Northern Europe.

The organisations called for the electrification of society, robust and flexible market models that support cross-border energy trade, and the production of green hydrogen and green fuels.

“Investments in offshore wind have become riskier with higher interest rates, rising material prices, uncertain electricity prices and challenges in supply chains,” commented I&P Denmark CEO, Kent Damsgaard.

“Denmark is in fierce competition with other countries for capital and the same investors.

“Therefore, there is a need for stable and competitive framework conditions so that Denmark can also attract investments from, for example, pension companies in offshore wind in the future.

“If we succeed, these investments will benefit Danish and European competitiveness and energy security.”

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