Funding issue looms for EU wind power

Investment in new European wind farms is likely to hold steady in 2010, adding a further 13 percent to capacity, but funding problems cloud the outlook, the European Wind Energy Association EWEA said.

The group expects 10 gigawatts GW of new wind generating capacity to be installed in the European Union this year, compared with 10.2 GW last year, taking total capacity to around 85 GW.

"We predict another strong year for wind turbine installations in Europe," EWEA Chief Executive Christian Kjaer told reporters.

"In Spain, we expect installations to decline quite dramatically, but that is likely to be compensated predominantly by installations in new European member states, led by Romania and Bulgaria," he added.

Wind power's previously explosive growth appears to have leveled off in Europe.

But the group said it was significant that part of this year's growth was based on orders placed since the start of the financial crisis — proving the sector's resilience.

Offshore wind capacity looks set to advance strongly with about 1 GW of capacity installed at sea this year, compared with around 577 megawatts in 2009. But funding remains an issue.

"Order books were really a problem in the second half of 2009, mostly because it was very difficult for project developers to get finance," said Kjaer.

"Orders are picking up with more availability of capital — project finance, but also bank lending," he added. "Where we are still seeing problems is very large projects, in particular offshore wind farms."

"There is still a reluctance among financiers to do syndicated loans. This is where the European Investment Bank has been stepping up lending. That's been desperately needed."

Related News

ev building charging

How vehicle-to-building charging can save costs, reduce GHGs and help balance the grid: study

OTTAWA - The payback that usually comes to mind when people buy an electric vehicle is to drive an emissions-free, low-maintenance, better-performing mode of transportation.

On top of that, you can now add $38,000.

That, according to a new report from Ontario electric vehicle education and advocacy nonprofit, Plug‘n Drive, is the potential lifetime return for an electric car driven as a commuter vehicle while also being used as an electricity storage option in Ontario’s electricity system.

“EVs contain large batteries that store electric energy,” says the report. “Besides driving the car, [those] batteries have two other potentially useful applications:…

READ MORE
Savannah River Nuclear Plant

Coalition pursues extra $7.25B for DOE nuclear cleanup, job creation

READ MORE

solar panels

Saskatchewan to credit solar panel owners, but not as much as old program did

READ MORE

global energy crunch

4 ways the energy crisis hits U.S. electricity, gas, EVs

READ MORE

electric meter

Nova Scotia regulator approves 14% electricity rate hike, defying premier

READ MORE