The governments of Germany, Belgium and Denmark have come together with industry partners to commit to deploying 60 gigawatts of offshore wind power in Europe from 2020-2030. According to WindEurope, the industry has been on a steep cost-reduction curve and has already met its self-imposed 2020 price target of EUR100 per megawatt-hour of power produced. Recent winning bids to build new offshore wind projects in the Netherlands, Germany and Denmark delivered up to a 48 percent cost reduction compared with projects approved in those countries just two years ago. The signatories to the agreement committed to build on public-private cooperation to facilitate investments in projects and associated infrastructure leading to at least 4 GW per year of new deployment in the decade after 2020.
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