Feb. 24 (Bloomberg) -- Denmark’s government presented a plan to invest in renewable energy including wind power and biogas as the country seeks independence from oil, gas and coal by 2050.
By 2020, Denmark will more than double its wind power capacity to 42 percent of total energy production, the Copenhagen-based environment ministry said today in an e-mail. The Nordic country also wants to cut energy consumption by 6 percent by that year.
The government will provide subsidies for biogas production, increase bio-based additives to fuel, promote new land-based wind turbines and expand existing offshore ones. It also wants to increase efficiency requirements for energy producers. Both homeowners and companies will pay more for electricity and heating, the ministry said, adding that it doesn’t expect the measures will hurt the country’s competitiveness.
“No one is saying that carrying out major investments in energy efficiency and expanding our use of renewable energy is going to be free,” said Climate and Energy Minister Lykke Friis, in the statement. “But the alternative is continued dependence on fossil fuels, which all indicators show will only become more expensive in the years to come.”
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