EUROPE invested €27 billion (£23.3bn) in new wind farms in 2018 to help finance a record amount of future new wind energy capacity, according to new figures. WindEurope’s annual Financing and Investment Trends report published yesterday said that while the amount was similar to previous years, cost reductions, especially in offshore wind, meant it would finance a record 16.7GW of new wind capacity. The group said 1MW of new onshore wind capacity now requires only €1.4 million (£1.2m) capital expenditure, down from €2m (£1.7m) in 2015, while 1MW of new offshore wind capacity requires €2.5m (£2.1m), down from €4.5m (£3.8m) in 2015. Most of the investments last year for future new capacity were for onshore wind – 12.5GW – and while offshore wind accounted for 4.2GW, it attracted 38.5% of the amounts invested. A total of 190 wind farms across 22 European countries reached a final investment decision (FID) last year, with northern and western Europe still accounting for most new investments. Among those reaching FID in the UK, were the Moray East (950MW), development in the Moray Firth and Triton Knoll (860 MW) in the North Sea off Lincolnshire. The UK was the biggest investor, mostly in offshore wind and Sweden was second, while investments in southern and central and eastern Europe were only 4% of the total.
The National 19th April 2019 read more »
Europe invested a total of €27bn in new wind farms in 2018, allowing it finance a record amount of new wind energy capacity, according to European trade body WindEurope. The figure invested in 2018 is broadly similar to previous years, but due to the ongoing reduction in development costs – particularly for offshore wind farms – the €27bn sum will finance a record high 16.7GW of new wind capacity in Europe, the trade association explained.
Business Green 18th April 2019 read more »
