(Bloomberg) -- The government has secured broad political backing for Denmark’s largest ever construction project, a 210-billion kroner ($34-billion) ‘energy island’ in the North Sea that will deliver clean electricity and help the country reach its goal of achieving climate neutrality in 2050.

The 120,000-square-meter island will be established 80 kilometers off the coast and will host key infrastructure needed for a planned expansion of Denmark’s offshore windmills, the Energy Ministry said in a statement. The project is expected to be completed by 2033 and will initially be used to supply 3 gigawatts of electricity, enough to cover 3 million households. Planners want to eventually raise that total to 10 gigawatts.

“Today we have taken a big step from vision to reality,” Energy Minister Dan Jorgensen said. The decision creates the framework for a crucial project in the green transition, “not only for Denmark but also for Europe and the rest of the world,” he said.

Denmark has pledged to cut its carbon emission by 70% compared to 1990 levels by 2030 and wants to be carbon neutral by 2050. The Nordic country, which already obtains more than 40% of its electricity from wind power, is home to the world’s biggest wind-turbine maker, Vestas Wind Systems A/S, and the world’s top developer of offshore wind parks, Orsted A/S.

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