Denmark and Luxembourg have entered into a new agreement on renewable energy, in which Luxembourg commits to purchasing shares of Danish production of green energy for between 332 million and 1.2 billion DKK in the period 2025–2030. The agreement is intended to support the expansion of renewable energy in Denmark and depends partly on Denmark's surplus of renewable energy shares in 2030. This is stated by the Ministry of Climate, Energy and Utilities in a press release.
The agreement has been entered into as part of the cooperation in the North Seas Energy Cooperation, where Denmark and Luxembourg are working together on the green transition. Although Luxembourg is a landlocked country, the country can benefit from Denmark's potential for offshore wind through the agreement.
- Denmark has a unique position within offshore wind, and by cooperating with Luxembourg we can expand renewable energy and at the same time contribute to the EU's goals for green energy. We previously had an agreement with Luxembourg to purchase renewable energy shares, and I am pleased that they have chosen to enter into a new agreement with us, says Lars Aagaard, Minister of Climate, Energy and Utilities.
The funds from the sale of renewable energy shares will be used to further expand renewable energy in Denmark. Denmark already has a similar agreement with Belgium.
The agreement with Luxembourg was signed at the North Sea Summit in Hamburg, where heads of state and government as well as energy ministers from nine countries are participating in discussions on cooperation on the expansion of offshore wind in the North Sea.
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