© Reuters. The European wind energy association warns of the fall in investment in the EU
Brussels, Jan 31 (.).- The European employers’ association in the wind energy sector, WindEuropea, assured this Tuesday that the 47% drop in investments in new turbines in 2022 compared to 2021 offers an “extremely worrying” outlook for the sector, which calls for the Brussels plan to counteract US subsidies to be attractive for renewables.
“Last year’s market interventions have made Europe less attractive to renewables investors than the US. Climate targets are at risk if the EU fails to ensure an attractive investment environment for renewables,” he said. WindEurope CEO Giles Dickson said in a statement.
Added to the drop in investment to 9 gigawatts (GW), none were undertaken in wind farms in the European Union, despite the fact that the community bloc aspires to go from 15 GW of wind power currently to 100 GW in 2030.
Investment decisions were delayed in many cases by high inflation, which in the last two years has raised the cost of raw materials to manufacture turbines by 40%.
But also due to “irrational” interventions in the markets, added the association that represents companies such as Acciona (BME:) in Brussels, Iberdrola (BME:), EDF (EPA:), Engie (EPA:), Vestas (CSE:), Shell (LON:) o Enel (BIT:), .
“That governments have been able to deviate from the EU emergency revenue cap of €180/MWh for generators and set different caps for different technologies has created real confusion and uncertainty,” WindEurope noted, adding that the slowdown was noticeable. more “in the second half of 2022 due to the” uncertainty surrounding emergency measures.
The companies ask for investment tax credits, emulating the US Inflation Reduction Act, as well as investments in new factories, ports and transportation infrastructure that help the sector.
Facing the proposal to reform the electricity market that the European Commission will present in March, WindEurope asked that “twenty years of integration of the European energy market overnight” not be reversed and that, in addition to favoring contracts for difference (CfD) and power purchase and sale agreements (PPAs) will also leave “room for investors to access some income from the market.”
(More information on the European Union at euroefe.euractiv.es)
