North Sea Wind Push Sees Industry Vow to Spend €9.5 Billion

The offshore wind industry has pledged to invest €9.5 billion ($11.3 billion) in its supply chain by 2030 to help expand capacity in the North Sea as European countries work to turn one of the most famous oil basins into what German Chancellor Friedrich Merz called “the world’s largest clean energy reservoir.”Leaders and energy ministers from nine nations including the UK and Norway came to Hamburg on Monday to sign a declaration on accelerating the technology. The sector, in turn, will also mobilize €1 tri ...