The European offshore wind industry needs €6.4bn investment in port upgrades and new vessels if it is to stand a chance of doubling installed capacity to 84GW by 2030. This will likely rely on fresh approaches to use public money to attract private investment.
Europe’s energy transition is at risk unless the offshore wind sector secures investment worth €6.4bn by 2030 in port upgrades and vessel projects, WindEurope has reported.
Last Monday (28th July), the European Commission closed consultation on two strategies to unlock investment in offshore wind infrastructure in the European Union. The first is the EU Ports Strategy, which focuses on setting investment priorities for the ports needed to accelerate the growth of fixed-bottom and floating wind farms; and the second is the EU Maritime Industrial Strategy, which is focused on the sector’s vessel needs.
WindEurope said €4.4bn has been invested in European port infrastructure projects in the last three years, but that more is needed if the continent is to more than double the continent’s installed offshore wind capacity from 36.6GW today to 84GW by 2030.
Specifically, it said that €2.9bn is required to expand and upgrade ports for fixed-bottom offshore wind farms, and an extra €1.5bn for upgrades for floating wind ports. This would help to grow port capacity to support 7GW-10.5GW of offshore wind installations annually, up from 6GW-9GW now. But raising the capital for these upgrades is likely to be difficult given the high up-front costs and delayed financial returns from port projects.
In its response to the Maritime Industrial Strategy, it said €2.3bn has been invested in new offshore wind vessels in the last three years, but more is needed. This includes an extra €1.5bn for seven new foundation and turbine installation vessels, in addition to the 10-15 foundation installation and 5-10 turbine installation vessels already in operation. It said only five vessels currently operating in Europe can handle the latest generation of 15MW-plus turbines.
Finally, it said €750m is needed for four more cable-laying vessels, in additional to the 20-25 currently operation. New vessels will be important if developers are to overcome the supply chain bottlenecks that have plagued offshore wind projects in recent years, but this will also require sufficient capital investment. But there are ways to leverage public funds to unlock this investment.
Mobilising investment
There are a few ways the EU could mobilise financial support needed to crowd in private investment for port upgrade and expansion projects.
First, it could raise funds from the Connecting Europe Facility, which is intended to promote growth, jobs and competition via targeted infrastructure investment, and the European Investment Bank. Second, it could streamline the permitting process for port upgrade projects to give investors the confidence to invest; and third, it could clarify its plans for strategic port upgrades at the EU level.
Port operators are also likely to make these investments as they look to support the production, storage and distribution of energy from renewable sources and alternative fuels, as well as decarbonising their operations.
Many of these suggestions would apply to the process for financing European shipyards that are needed to produce new vessels too. The European Investment Bank could provide the investment to de-risk private investments in shipyards and vessel construction; and streamlined regulations would make it easier for developers to roll out these upgrades.
It is not only WindEurope highlighting the importance of these investments. A study from the International Marine Contractors Association in June 2025 reported that the offshore wind industry needs unprecedented growth of heavy-lift vessels, specialist equipment and port upgrades if Europe is to achieve its target of 300GW-400GW installed offshore wind by 2050. European policymakers must give investors clarity to make it happen.
The positive aspect here is that port upgrade investments are already happening.
This week (5th August), Scottish ministers approved the final licenses needed for the £111m overhaul of Scotland’s Port of Cromarty Firth with a deep-water quay for floating wind; and, in May, the Port of Aberdeen set out a £25m investment plan to be a hub for floating wind. Companies are also buying into Scottish ports, with Mitsui & Co. leading the acquisition last month of the Port of Nigg for an undisclosed sum.
Elsewhere, last month (30th July), the Spanish government announced a €160m grant programme to adapt ports in Spain for offshore wind and other marine renewables.
Such moves must be replicated Europe-wide if the continent is to achieve its goals.
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