-
Chip giant SK hynix posts record quarterly profit on AI boom
-
Tesla reports higher profits, confirms hefty spending ahead
-
'Big loss' for F1 if Verstappen quits, say McLaren rivals
-
Israeli strikes kill 5 in Lebanon, Beirut to seek truce extension
-
Barca edge Celta but lose match-winner Yamal to injury
-
UK, France agree three-year deal to stop migrant crossings
-
Trump looks for way out on war, but Iran may not oblige
-
Tears and smiles at tribute concert for Swiss fire victims
-
Tesla reports higher profits, topping estimates
-
Manchester City go top of Premier League as Burnley relegated
-
Kane and Diaz send Bayern past Leverkusen into German Cup final
-
Concert pays tribute to Swiss fire disaster victims
-
US stocks rise, shrugging off uncertain ceasefire prospects while oil prices jump
-
Pope hits out at jails in closed-off Equatorial Guinea
-
Atletico beaten again in Elche thriller
-
England rugby great Moody offered 'hope' in battle with motor neurone disease
-
PSG roll over Nantes to move closer to Ligue 1 title
-
Ecuador doctors protest crisis as patients bring own meds to surgery
-
Top Peru ministers quit in protest over stalled US fighter jet deal
-
De La Hoya and Ali's grandson slam proposed federal boxing reform
-
Archer, Burger turn up the heat as Rajasthan beat Lucknow in IPL
-
Trump alleges Democratic-backed Virginia referendum was 'rigged'
-
Archer, Burger help Rajasthan beat Lucknow in IPL
-
Migrants deported from US stranded, 'scared' in DR Congo
-
Raiders expected to make Mendoza first pick in NFL Draft
-
Chelsea sack Rosenior after worst run since 1912
-
Veteran Fijian Botia extends La Rochelle contract to 2027
-
Colombia's ambitious energy transition gets reality check
-
Liam Rosenior sacked as Chelsea manager
-
'Seriously fractured'? Scepticism over Trump's Iran leadership split claim
-
US doesn't dictate terms of trade talks: Carney
-
Mideast war weighs on parent of Durex condoms
-
Greek parliament lifts immunity of MPs probed in EU farm scandal
-
Just a little late: Frankfurt celebrates new airport terminal
-
Germany forward Gnabry confirms he will miss World Cup
-
Liam Rosenior sacked as Chelsea manager: club
-
Shifting goals blur picture of US blockade on Iran
-
US Treasury chief defends pivot to extend Russia oil sanctions relief
-
French teenager Seixas becomes youngest Fleche Wallonne winner
-
New drugs raise hopes of pancreatic cancer breakthrough
-
South Africa coal delay could cause 32,000 deaths, report says
-
French teenager Seixas becomes youngest winner of La Fleche Wallonne
-
Hezbollah supporters defiant after sons killed fighting Israel
-
EU unblocks 90-bn-euro Ukraine loan after Hungary row
-
Russia says will halt flow of Kazakh oil to Germany
-
Merz says climate policy must not 'endanger' German industry
-
Ziggy Stardust lives on at David Bowie London immersive
-
Thousands of London commuters walk to work in underground strike
-
Boeing reports narrowing loss, points to progress on turnaround
-
Oil up, stocks mixed on uncertain prospects for US-Iran ceasefire
European summit to spur wind energy production in North Sea
Nine European countries are holding a summit Monday aimed at scaling up wind power generation in the North Sea, spurred by the fall-out of the Ukraine war and the push for renewables.
Hosted by Belgium in the coastal town of Ostend, the meeting will gather the leaders of EU members France, Germany, Ireland, Denmark, the Netherlands and Luxembourg, with European Commission chief Ursula von der Leyen also attending.
Norway and Britain will participate, too, though French officials said the UK's energy minister would lead the delegation and not Prime Minister Rishi Sunak who could not make it.
Belgian Prime Minister Alexander De Croo said ahead of the summit that the goal was for enough North Sea wind farms to be built to produce 130 gigawatts (GW) of electricity by the end of this decade.
That capacity should more than double, to nearly 300 GW, by 2050, he said.
The North Sea summit is the second one to be held, after the four countries in the inaugural gathering last year -- Belgium, Denmark, Germany and the Netherlands -- decided it was necessary to broaden cooperation.
De Croo said developments over the past year, which saw European energy prices soar as the continent shunned Russian gas, meant energy was now, "more than ever, a geopolitical topic".
The summit was focused on "speed of execution", notably by standardising the infrastructure needed so that North Sea wind farms could be built faster and cheaper, he said.
Dozens of bosses of energy and wind turbine companies are also participating in the summit, to suggest ways the governments can boost their countries' North Sea energy production.
Britain has the biggest fleet of offshore wind farms, 45 of them producing 14 GW, with plans to expand capacity to 50 GW by 2030.
Germany is next, with 30 wind farms producing 8 GW, followed by the Netherlands with 2.8 GW and Denmark and Belgium both with 2.3 GW.
The other participating countries produce less than a gigawatt from their existing offshore wind farms but share ambitions to greatly increase energy from that source.
"For us, as with our neighbours, offshore wind energy will probably be the main source of renewable energy production between 2030 and 2050, far ahead of solar energy and land wind farms," an official at the French presidency said.
As the North Sea is relatively shallow, turbines can be installed fairly easily and in great number, the official noted, adding that France aimed to have 40 GW in offshore output by 2050.
- Financing needed -
The European Union has recently set out a goal to double the proportion of renewables in its energy mix, to 42.5 percent, notably by making it easier to get permits to install the infrastructure.
WindEurope, the federation representing Europe's wind energy industry, believes the ambitions of the Ostend summit are doable, given the technological expertise and experience of companies in the sector.
But "there is a lack of mobilisation of financing" to scale up supply chains, said Pierre Tardieu, WindEurope's chief policy officer.
The organisation says Europe needs to build the offshore infrastructure to add 20 GW in output per year, yet the sector currently has capacity for just 7 GW annually, with supply chain bottlenecks for cables, wind turbine housings and other parts.
"We're not producing enough of certain crucial elements today," Tardieu told AFP.
He said turbine-makers were operating "at a loss" because of logistical friction experienced in the wake of boosted demand after the worst of the Covid pandemic.
Recruitment in the sector was also well below where it needs to be, he said.
Investment to get Europe where it wants to be is massive: the EU has calculated the cost of getting to 300 GW in offshore energy production by 2050 at 800 million euros ($900 million).
L.Hussein--SF-PST