Tuesday, 22 October, 2019

Investments in wind energy down 19 per cent in European Union in 2017

Wind turbines are seen in a windfarm near Radenac in Brittany Investments in wind energy down 19 per cent in European Union in 2017
Patty Aguilar | 15 February, 2018, 06:44

With a 20 per cent growth in wind energy installations in the wider electricty generating system compared to 2016, wind now meets 11.6 per cent of the EU's electricity demand.

Europe installed 15.7 GW of new wind previous year, up 20 per cent compared to 2016, bringing the total to 169 GW, second only to natural gas capacity, WindEurope's statistics indicate. This was split 12.5 GW onshore and 3.1 GW offshore. 2017 was also a record year for new investments in future wind farms. Cost reductions in the wind industry supply chain and increased competition in auctions gave investors more capacity for less cash.

The report says wind installations accounted for 55% of all power installations globally during the year. But the value of these investments at € 22.3 billion (€ 14.8 billion onshore and € 7.5 billion offshore) was 19% down on 2016.

Europe is home to a large number of leading players in the global wind power sector, be it project developers or equipment manufacturers, including Vestas, Orsted, Siemens Gamesa, EnBW and Nordex.

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Germany with 6.6GW led the way from the United Kingdom on 4.3GW and France on 1.7GW.

Regarding total capacity, it was followed by Spain with 23.1 GW and the United Kingdom with 19 GW.

The Wind Europe report also said that 85 per cent of the new capacities for power generation in the European Union came from renewable energy, with wind accounting for 65.5 percent of the additional capacity, followed by solar (35.5 per cent) and biomass (4 per cent). It was 44% in Denmark, and 24% in Ireland and Portugal.

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