(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.
Denmark’s government is looking into the merits of plowing as much as 300 billion kroner ($45 billion) into a mega wind park.
The project would entail building one or more islands to house the turbines, according to a statement published by the ministry of climate on Tuesday.
The park would have a capacity of 10 gigawatts and would be able to supply power to 10 million homes. The ministry expects that most of the investments will be made by private companies.
The government is spending 65 million kroner of Denmark’s 2020 budget on the project, mainly on exploring different technologies.
The wind power capacity from such a large park would be five times higher than is currently installed in Denmark, Climate Minister Dan Jorgensen said in the statement.
The ministry will explore different locations for the project, including in the North Sea and the Baltic Sea.
To contact the reporter on this story: Christian Wienberg in Copenhagen at firstname.lastname@example.org
To contact the editor responsible for this story: Tasneem Hanfi Brögger at email@example.com
©2019 Bloomberg L.P.