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.
After the general elections in Germany two things seem certain. Angela Merkel is going to continue as Germany’s chancellor and there will definitely be changes to the current Renewable Energy Act.
In this insightful interview, New Energy asks EWEA’s CEO, Thomas Becker, how he thinks the German situation can affect European politics and what he perceives the challenges to be for the industry in the year ahead.
Press conference, EWEA OFFSHORE 2013, Frankfurt, 20 November 2013, 13:00
The German coalition is planning to drastically reduce its support for wind energy and has cut its 2030 offshore wind energy target from 25 GW to 15 GW.
At a press conference next week at EWEA OFFSHORE 2013 in Frankfurt panelists will discuss what happens now for the offshore wind sector in Germany.
“Is offshore wind worth the money? Markets say yes. Banks say yes.” So said Albert Jochems, Managing Director at Green Giraffe Energy Bankers yesterday during a live webcast on offshore wind energy yesterday afternoon.
Other panellists included Michael Hannibal, Head of Siemens Wind Power Offshore and Jacopo Moccia, EWEA’s Head of Political Affairs. Throughout the webcast discussions covered all issues central to the economics of offshore wind.
Get an early start and watch the live CEO breakfast panels, filmed in the exhibition halls.
At the upcoming EWEA OFFSHORE event, political and industry leaders will debate 2030 targets, leading manufacturers will discuss how to lever the best state-of-the-art technology and industry experts will go into detail on financing offshore wind and taking turbines into deeper waters.
Political and industry leaders will debate ‘2030 targets – the magic number?’ on the opening day of EWEA OFFSHORE 2013 on 19 November in Frankfurt.
- Daniel Johansson, State Secretary, Ministry of Enterprise, Energy and Communication, Sweden
- Melchior Wathelet, Secretary of State for the Environment, Energy and Mobility, Belgium
- Jos Delbeke, Director-General for Climate Action, European Commission
- Jens Tommerup, CEO Vestas-MHI Offshore Joint Venture, Denmark
- Henrik Poulsen, CEO, DONG Energy
EWEA OFFSHORE 2013 – press registration now open
Between € 90 billion and € 123 billion are needed by the European offshore wind energy industry to meet its 2020 target of 40 GW. Yet the main obstacle to development is not the availability of the funding but the regulatory instability freezing the industry, a new report will show.
The accelerating offshore wind market represents a unique opportunity for other industries like the Maritime and Oil & Gas sectors to transfer their offshore know-how and industrial capabilities to the offshore wind energy market. As offshore wind projects are developed further from shore and in deeper waters, this experience will be valuable for the further development of the offshore wind energy industry.