Dutch industry needs to speed up its investments in green energy if the Netherlands is to achieve its sustainability target, ABN Amro economists said on Tuesday.

The Netherlands wants to generate 16% of its energy needs from sustainable sources by 2023. Currently, around 4.5% is green energy.

The ABN Amro economists say a great deal of investment is needed and this will have to be made in the short-term because of the long planning and production process inherent in erecting the estimated extra 1,000 wind turbines required, the Telegraaf reports.

Benefits

However, a heavy investment in the sustainabililty sector should bring benefits to Dutch industry as other European countries are also aiming to bring down energy emissions.

The long Dutch tradition in the offshore oil and gas industry puts the Netherlands in a good position to export know-how in building offshore wind farms, for instance in turbine production, transport and maintenance, the economists say.