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Offshore Wind farm
Germany has planned to expedite the renewable energy transition and become a net renewable and clean energy country by 2035. This means that Germany is bringing forward the national renewable targets by 15 years. The speedy transition to renewable energy will be shouldered mainly by the solar and wind energy projects.
The Economy Ministry of the German Government has proposed a new law under which that government aims to raise the energy coming from onshore wind facilities and solar power projects by almost three times. Offshore wind energy too has a major role in the transition as the draft law looks to at least double the capacity.
The Economy Ministry oversees Germany's energy and climate policy.
The Russian invasion into Ukraine is more than an eye opener for Germany. It has already launched a series of measures to diversify its energy sources and reduce dependence on Moscow. At present, Russia supplies more than half Germany’s natural gas demand.
Germany has also planned to phase out its nuclear power and the last three reactors will stop by the end of this year.
The proposed legislation by the Economy Ministry holds that the onshore wind capacity should increase from 3 GW this year to 10 GW in 2027. Solar power capacity will rise from 7 GW to 20 GW annually in 2028.
The offshore wind projects are also expected to see an unprecedented expansion in near future. The capacity will rise from 30 GW in 2030 to 70 GW in 2045.
The energy prices have soared in Germany of late. Most of the credit goes to erratic gas supplies from Russia. The country is already mulling the suspension of all energy supplies from the Eurasian country. To ease the burden of higher energy prices on customers, the government has planned to scrap the levy that was meant to finance the expansion of renewables.
Also, to eliminate any energy shock in the economy, the draft law requires a new national gas reserve where the owners of storage facilities will have to fill them 65% by August, 80% by October and 90% by December 2022.