Wind Power will be a key building block for Economic Recovery

  • Major players in the wind sector have published a statement that highlights how wind energy is a key building block for economic recovery from the impact of COVID-19.
  • Wind energy is one of the fastest growing industries in the world, and could create nearly 4 million direct and indirect jobs as well as between $207bn or over $2tn of additional annual investments if wind capacity rises above 2TW.
  • Investments in wind and other renewable energy sources are vital to create the infrastructure of the future to build more resilient and sustainable economies, while providing countries and citizens with more affordable energy, lower carbon emissions, greater energy security, and alleviating debt burden on young people.
  • Governments should introduce clear criteria that investment schemes for public and private bodies are built upon the principle of “No Harm” for society and the environment.
  • The statement calls on governments, intergovernmental bodies, and global lending institutions to put wind energy investment at the centre of their economic recovery and growth plans by taking key actions outlined in the statement.

6 May 2020, Brussels – Today, GWEC along with signatories representing all the major wind industry corporates and associations across the world have released a statement highlighting wind power’s role in the global economic recovery following the COVID-19 crisis and laying out the key policy actions that must be put into motion in order to realise a sustainable economic recovery.

Wind power is a key building block for economic recovery from the impact of COVID-19, which will enable governments to renew critical infrastructure for a sustainable future. The wind industry will help to deliver jobs, clean and affordable power and energy security needed for a sustainable economic recovery.

Calling on governments, intergovernmental bodies, and global lending institutions, the statement suggests key actions policy makers can take to put wind energy investment at the centre of their economic recovery and growth plans with three overarching themes: investment for a sustainable and resilient future, an enabling environment for clean energy, and empowerment of people to drive the energy transition forward.

Ben Backwell, CEO at GWEC said: “The COVID-19 pandemic has had unprecedented social and economic impact around the world, and how we recover from the crisis depends on the actions that we all take over the coming months. We have the opportunity here to ‘re-build back better’, help kick-start sustainable economic recovery, and build the energy infrastructure of the future.”

He adds “Young people in particular will bear the financial, social, health and environmental costs of the stimulus plans now being designed, and carry the debt associated with this spending, so we must make sure they are able to benefit from today’s decisions. At the same time, governments should establish a principle of “no harm” for economic stimulus spending and ensure that this does go to reviving fossil fuel industries which need to be phased out to achieve the energy transition and head off the threat of dangerous and irreversible climate change.”

Morten Dyrholm, Chair at GWEC and Group SVP, Marketing, Communications and Public Affairs at Vestas commented: “The wind sector is one of the world’s most promising industries. Policies and investment frameworks that further advance this industry is therefore central to boost growth as our economies recover. Not only can our industry support millions of jobs and billions in investment, but the immense benefits that wind energy can bring to society as a whole, such as affordable power, cleaner air and resilient infrastructure, means that the return on investment for wind makes it a logic choice for countries seeking green recovery after the pandemic”.

Giles Dickson, CEO at WindEurope added: “The long-term impact of COVID-19 depends on the political action we take now.  In Europe the Green Deal offers the route to economic recovery.  Jobs, growth and sustainability – a clear vision for all countries to pursue. Governments should align their recovery packages with climate goals and invest in the job-creating potential of onshore and offshore wind.  Their economies will bounce back stronger and more resilient”.

The statement has been signed by the major corporates in the wind sector including Vestas, Siemens Gamesa, Iberdrola, Mingyang Smart Energy, MHI Vestas, Acciona, Nordex, ReNew Power, EDPR, ZF, Orsted, Goldwind, Envision as well as wind and renewable energy associations such as WindEurope, American Wind Energy Association (AWEA), Chinese Wind Energy Association (CWEA), Brazilian Wind Energy Association (ABEEolica), Mexican Wind Energy Association (AMDEE), RES4Africa, South African Wind Energy Association (SAWEA), Japan Wind Power Association (JWPA), Russian Association of Wind Power Industry (RAWI), Japan Renewable Energy Institute (REI), Mongolian Wind Energy Association ( MONWEA), and the Turkish Wind Energy Association (TUREB/TWEA).