The offshore wind energy sector needs up to £100 billion in investment between now and 2020 if it is to meet its target of 40 GW of installed capacity.
But according to new research by the European Wind Energy Association, political and investor uncertainty caused by changing regulatory frameworks, not least in the two largest markets, the UK and Germany, is bottle-necking financial investment,
“By undermining investment stability, governments are putting green growth, jobs and a world-leading European industry at risk”, said Thomas Becker, Chief Executive of the European Wind Energy Association (EWEA), Thomas Becker, at the EWEA Offshore 2013 exhibition in Frankfurt.
“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 full Ernst and Young report, ‘Where’s the money coming from? Financing offshore wind farms’ will be publicly available from Monday 25 November at www.ewea.org
The EWEA comprises more than 600 members from almost 60 countries, including wind turbine manufacturers with a leading share of the world wind power market, plus component suppliers, research institutes, national wind and renewables associations.