Renewable energy and cutting carbon emissions is on everyone’s minds at the moment, and it’s become more and more prevalent in the news and in the world we live in, as people look towards a more sustainable and green future for themselves and for our planet. Investments in the sector are at the highest they’ve ever been, especially in Wind Energy in which Europe actually spent 42.8 billion euros on wind farms in 2020.
Investments are hitting both the offshore and the onshore sectors, with 26.3 billion spent on offshore and 16.5 billion spent on onshore, with the earlier figure setting a new record, paving the way for the next few years ahead.
In a recent report carried out by WindEurope, Turkey actually ranked fifth in the list of countries who invested the most in Wind Energy, and this equated to a total of 1.19 billion across the year. The UK actually invested the most with 13.5 billion, with the Netherlands, Germany and France following suit, and all spending over 1 billion.
Banks are currently contributing the most to the investment, with around 70-90% through debt financing whilst the other 10-30% is via equity financing, and the report went on to confirm that wind energy is still a highly attractive and lucrative investment, when compared with other forms of renewable energy including solar power & hydro-electric.
WindEurope CEO Giles Dickson commented on the findings saying that ‘By simplifying the permit process, governments in Europe could bolster wind energy to deliver on all their promises and goals’. He went on to add that ‘The technology is there, the money is there, but all that awaits is the right policies.
