The offshore wind industry needs between EUR90 and EUR123 billion by 2020 to meet its 40 GW target. Equity and debt providers are willing to invest but fear regulatory instability.
The offshore wind energy sector needs up to EUR123 billion in investment between now and 2020 if it is to meet its target of 40 GW of installed capacity, and the financial community is able to invest this amount, new research shows.
What’s blocking the investment is the uncertainty caused by changing regulatory frameworks, not least in the two largest markets, the UK and Germany, the independent survey of the financial community shows.
“By undermining investment stability, governments are putting green growth, jobs and a world-leading European industry at risk”, said CEO of the European Wind Energy Association (EWEA), Thomas Becker, at the report launch in Frankfurt at EWEA OFFSHORE 2013 today.
“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, ‘Where’s the money coming from? Financing offshore wind farms’ comes from EWEA with research from Ernst and Young.
The full report is available for press and EWEA members attending EWEA OFFSHORE 2013 today, and can be found on the members