Market and industry updates, WW200902
Market and industry updates
All the latest news on the wind energy market.
Wind power production expected to rise by 50%
To meet the EU’s target for Sweden of 49% energy from renewables by 2020, investments need to double according to the Swedish Wind Energy Assocation’s Chief Executive Matthias Rapp. SEK 3.5-4bn was invested into wind power in Sweden in 2008 which increased production by just under 50% to 2 TWh. According to Rapp, the 49% target requires 25 TWh of wind power up from 2 TWh at the end of 2008 (with an installed capacity of 1,021 MW. To reach the target, wind power capacity needs to increase by 700 MWh annually. Such investment could create 12,000 jobs by 2020.
Swedish wind energy association website
Wind power generation reached record high on 22 January
According to the Spanish association of wind energy producers, AEE, at 7.30pm on 22 January 2009, the total simultaneous energy produced from wind sources in Spain reached a new high record of 11,159MW, accounting for 26% of total demand. On the same day, production from wind sources reached a new high of 234,060MWh - that is 27.75% of the total electricity generated that day. In the early hours of the following day, Friday 23 January 2009, the energy generated by wind sources in Spain accounted for 41% of the total power generated in inland Spain.
Clean energy stocks hit by falling energy prices
According to market analysis firm New Energy Finance, the WilderHill New Energy Global Innovation Index, which tracks the stocks of 88 renewable and low-carbon alternative energy firms worldwide, fell 70% in value from the start of 2008 to November 2008, reaching its lowest level since September 2003. While in 2007 the index had risen in value by 58%, in 2008, 84 of the companies saw their shares fall, with stocks hit hard by rapidly falling oil and gas prices. However, New Energy Finance urges companies to stick with renewable low-carbon energy as there remains huge scope for growth within the sector.
Government approves new renewables strategy
The Russian Government has approved a strategic plan for renewable energy to run from 2009 to 2020. The plan stipulates that renewable energy must account for 1.5% of the country's total energy production by 2010, 2.5% by 2015 and 4.5% by 2020. Renewable energy currently accounts for less than 1% (8.5bn KWh/year) of Russia's total yearly production.
Iberdrola invests in new power projects
The Spanish energy group Iberdrola plans to invest €2bn which will be spent in Portugal in the next few years in a bid to reach an installed capacity of 2,500MW. Part of the sum - €250 million - will be spent on five new wind farms, which will add 200MW of capacity.
Iberdrola press room
Vestas expects 20-25% annual growth of wind power market
Danish wind turbine manufacturer Vestas expects the wind power market to grow by 20-25% annually until 2020, when wind power is expected to account for 10% of the global energy consumption, up from current 1%. In an interview, Vestas Chief Executive Ditlev Engel says that the EU's climate package with its 20% renewables target, as well as President Obama's positive attitude to wind energy will stimulate growth in the sector.
Vestas press room
Mixed message for renewables investment in 2009
Financial experts at t he World Future Energy Summit in Abu Dhabi in January said the global financial slow-down should see credit difficulties for renewable energy projects in 2009. There is now a "buyer's market", with investors being very selective in the projects they support.
However, experts said there were still equity investors chasing deals, though there is now even more of a focus on quality. They say there is €12 billion of equity available for renewable acquisitions in the EU.
Political support for renewable energy is now seen by investors as being stable, with wind energy particularly attractive because of the maturing market and the fact that the risks are now well known. The technology is now seen by investors as proven, and construction as "relatively simple" and the risks of wind energy are now fairly well accepted in financial circles.
World Future Energy Summit website
Airtricity's wind farm proposal approved
Irish wind power group Airtricity is to build a wind farm 40km off the Hook of Holland coast at West Rijn. The wind farm will have 72 x 3.2MW wind turbines and provide electricity for the equivalent of 320,000, and come online in 2013. Airtricity now needs to obtain funding from the Dutch government.
Munich to invest in renewable energies
Munich intends to become Germany's first big city in which all households run on locally produced green electricity. Munich's utility, Stadtwerke München (SWM) intends to spend more than €1bn in the next few years on renewable energy facilities such as wind, geothermal heat and solar. SWM will also invest in offshore wind energy in collaboration with Wetfeet Offshore Windenergy, in which it has a 24.9% stake. The plan is to implement the Global Tech I project, which involves putting up 80 wind turbines totalling 400 MW of capacity in the North Sea by 2013.
Gamesa to supply Alerion with 26 wind turbines
Alerion Parco Eolico Licodia Eubea is to receive 26 x 850 kW wind turbines from Spanish wind turbine manufacturer Gamesa for a wind farm in the Catania region of Italy. The total capacity of the wind farm will be 22 MW. The turbines will be delivered in 2009.
R&D project looks into deep water offshore wind turbines
Spanish energy firm, Acciona Energia, is leading a research and development project on deep water offshore wind turbines. The project is looking at the installation of wind turbines with at least 5 MW of capacity. 50 companies are taking part in the project, which has funds of €33.70mn. The project is due to be completed in 2010.
Acciona Energia’s press room (in Spanish)
Alstom and Östkraft in wind power collaboration
Alstom, which owns the Spanish wind power manufacturer Ecotècnia, has signed a letter of intent to expand wind power in Sweden with Swedish energy company Östkraft. The aim is to promote the exchange of knowledge and to create new business opportunities. The first joint project will be presented this spring.
Alstom press room
Official founding conference of IRENA
The official founding conference of the International Renewable Energy Agency (IRENA) took place on 26 January 2009 in Bonn. Germany, Denmark and Spain led the setting up of the body which aims to promote renewable energy through global cooperation by providing information, support and mechanisms for renewable energy development. 75 countries signed up to become members of IRENA.