Europe bets on 100 GW offshore wind to curb US gas reliance
European ministers agreed to jointly develop 100 GW of offshore wind in shared North Sea waters by 2050 to reduce dependence on U.S. LNG and lower electricity costs, building on a 2023 pledge for 300 GW. The plan hinges on a network of bidirectional cables and interconnectors to balance supply across time zones, potentially cutting gas-fired power and episodes of negative pricing. Officials say the scale could lower consumer costs, boost homegrown manufacturing, create about 91,000 jobs, and generate up to 1 trillion euros in activity, but success hinges on complex regulatory alignment and political backing across multiple countries.