The offshore wind energy sector needs up to 123 billion in investment between now and 2020 if it is to meet its target of 40GW of installed capacity according to a report by the European Wind Energy Association (EWEA).
Fortunately, new research by Ernst & Young shows that the financial community is able to make such an investment. The problem is that the changing regulatory framework, particularly in the UK and Germany, is creating continued uncertainty among investors.
“By undermining investment stability, governments are putting green growth, jobs and a world-leading European industry at risk” said Thomas Becker, CEO of the European Wind Energy Association (EWEA), launching the report in Frankfurt at EWEA OFFSHORE 2013. “Stable national frameworks and a binding EU renewable energy target for 2030 will be a green light to investors and ensure the industry continues to flourish” he added.
The report, entitled “Where’s the money coming from? Financing offshore wind farms”, is published by EWEA incorporating research from Ernst and Young. The full report will become publicly available on Monday 25th November.
For additional information:
EWEA/Ernst & Young Report (Summary)
European Wind Energy Association (EWEA)
Ernst & Young