The Danish pensions industry is fully supportive of the goal to utilise the North Sea for green energy to a greater extent and is ready with investment capital to meet European ambitions, Forsikring & Pension (F&P) has said.

Following the meeting of European heads of state yesterday (18 May), where greater investment in green energy projects in the North Sea was discussed, F&P said increased investment was ambitious, necessary and showed that the country would make full use of the North Sea’s potential.

F&P CEO, Kent Damsgaard, said that focus must now turn to getting the concrete framework in place as soon as possible, so the plans to turn the North Sea into a ‘green power plant’ can become a reality.

The plans to extend the plant's capacity by 2050, which will cover the needs of up to 230 million Europeans, require investments of more than DKK 1,000bn.

“It is absolutely necessary for us to achieve our own goals in the field of energy that Denmark and our neighbouring countries set the ambitions for green development of energy so high,” Damsgaard commented.

“It also opens up for Danish exports and jobs. Our industry has long wanted a larger goal in this area, and we are ready with green investments.

“With an expansion of offshore wind, we can get started on what can end up as a true export adventure for Denmark.

“It also plays directly with the development of PtX, so that the large amounts of green energy we create in the North Sea can be stored and used efficiently for the 230 million Europeans who can benefit from the green energy.”

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