In 2011 the European leaders signed a memorandum of understanding in order to encourage offshore renewable energy development and achieve the 20% energy target by 2020.
According to Oilprice.com, the plans are to join all the types of renewable energy sources across the EU to reduce energy prices, cut waste, secure energy supply, increase efficiency, and boost economies.
Justin Wilkes of the European Wind Energy Association (EWEA) said: “The benefits of an offshore supergrid are not simply to allow offshore wind farms to connect; if you have additional capacity, which you will within these lines, it will allow power trading between countries and that improves EU competitiveness.”
This North Sea Grid Initiative will include Germany, Denmark, Norway, Sweden, Belgium, France, Luxembourg, and the United Kingdom.
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Subsea World News Staff , August 17, 2012; Image: scotland.gov.uk