Europe needs homegrown power at scale, offshore wind is gearing up to deliver

The third day at the WindEurope Annual Event 2026 is all about offshore wind. Europe needs to move from crisis to confidence – with homegrown and secure renewable electricity. Three months after the North Sea Summit in Hamburg, governments and industry meet in Madrid to turn offshore wind commitments into action.

The war in Iran reminded Europe, again, that it needs to replace imported fossil fuels with homegrown, secure electricity. Offshore wind delivers the energy Europe needs. It is homegrown, scalable and cost-effective.

“At the North Sea Summit in January leaders committed to an accelerated and more consistent expansion of offshore wind. Europe has no time to waste, making this commitment a reality. Offshore wind helps lower electricity costs for households and businesses. And it shields Europe from geopolitics and fuel price swings”, says Tinne van der Straeten, WindEurope CEO.

Visibility, investment security and auctions

The Hamburg Declaration provided the political signal Europe’s offshore wind supply chain needed. Governments agreed to contribute to the build-out of 15 GW of offshore wind annually from 2031-2040. At least 10 GW of them will be backed by two-sided Contracts for Difference, the rest via Power Purchase Agreements.

Contracts for Difference offer visibility on future revenues and help de-risk new wind energy investments. The volume commitments offer visibility for manufacturers and supply chain to invest in factories, ports and services.

As its contribution to the Hamburg Declaration, the European wind industry committed to cut the costs of offshore wind by 30% by 2040, compared 2025 levels. This will come through lower financing costs, de-risked projects and faster industrialisation. And the industry is already delivering. We are investing in projects, manufacturing capacity and skills. And stepping up on security.

Hamburg Declaration – from commitments to action

The Hamburg Declaration is an example for other regions to follow.

It came at a critical moment. Europe’s offshore wind deployment had been slowed by bad auction design, increased costs of capital and lack of visibility for the supply chain due to an uncertain project pipeline. The result: Europe will build just 70 GW of the 120 GW of offshore wind capacity it aimed to have by 2030.

But a declaration is only a first step.

Today Energy Ministers from the North Sea countries meet at the WindEurope Annual Event 2026 to discuss the next steps. Governments, TSOs, industry and NATO are in the room. The task is clear: implement the Hamburg Declaration together to deliver what Europe needs: more offshore wind to strengthen Europe’s energy security and competitiveness and to deliver lasting value for consumers and communities.

The European offshore wind industry is gearing up to deliver.