Danish parliament agrees on framework of Energy Island in North Sea

An agreement on the overall framework for supply and ownership of an artificial Energy Island off the Danish coast in the North Sea was reached by a political majority in Denmark's Folketing (parliament), the Ministry of Climate, Energy and Supply announced on Thursday, reported Xinhua.

The ministry said in a press release that the agreement was reached in order to attract strong public-private partnerships and help "activate commercial competencies and create the best framework for green energy and innovation on the island."

There will be a single offer of a partnership and construction project for the Energy Island in the North Sea, which will supply Denmark and Europe with green electricity.

Furthermore, "ownership is built up as a joint-stock company, where the state owns at least 50.1 percent, and the bidders on the island must have the opportunity to establish extra areas on the island for innovative, green solutions."

It is estimated that total investments for the island, infrastructure and associated offshore wind farms will be around 210 billion Danish kroner.

In the long term, the island is expected to achieve a total generating capacity of 10 GW of offshore wind power, "with the possibility that facilities on the island could store the power and convert it into fuels for planes, ships and trucks."