Friends of the Supergrid and Business Network for Offshore Wind sign memorandum of cooperation

16 February 2016 – The US based Business Network for Offshore Wind and EU based Friends of the Supergrid (FOSG) signed today a Memorandum of Cooperation expressing their close cooperation in identifying the main barriers to grid development and suggesting solutions necessary for the development and construction of offshore wind farms.

Both organizations share the common goal of moving to a sustainable low-carbon economy while maintaining security of supply and recognize that offshore wind has an enormous potential to make a significant contribution to this goal.

The development of offshore wind farms requires consequent investments in large-scale infrastructure, including at grid level.

To secure these investments, political support is essential at all levels of governments. Therefore, Friends of the Supergrid and the Business Network for Offshore Wind will each set up dedicated working groups. The main objective of these working groups will be to propose concrete solutions in order to eliminate the main barriers (technical, financial and regulatory) to offshore development. These groups will compare European and US best practices, trends and innovations and both organizations will develop a common work plan.

Additionally, the cooperation between Friends of the Supergrid and Business Network for Offshore Wind will enhance the knowhow and awareness of commercial opportunities for the members of both organizations.

Friends of the Supergrid represents the key sectors active in the electricity grid industry, i.e. global multi-industrial companies with a combined turnover of €200 billion representing close to 1 million jobs. The main purpose of FOSG is to support the creation of an integrated European electricity market supported by a pan-European offshore and onshore electricity network, the Supergrid, which will significantly foster Europe’s energy independence. Follow Friends of the Supergrid on Twitter: @FOSG_EU

The Business Network for Offshore Wind is a 501 (c) 3 organization dedicated to establishing a U.S. offshore wind supply chain. The network is focused on delivering education, creating partnerships and advancing the industry. All membership and event proceeds are turned right back into supporting the industry by helping the Network continue programmatic education, develop tools, and networks necessary to create a US offshore wind supply chain. Follow the Business Network For Offshore Wind on Twitter: @offshorewindus