EUOBSERVER / BRUSSELS - European wind energy projects are finding it hard to get finance as the economic crisis begins to pinch, with smaller manufacturers announcing hundreds of lay-offs despite the robust performance of the sector heading into the downturn. "There was such high demand six months ago, you had to stand in line to purchase windmill parts, but now the order books seem to have lightened somewhat," a senior EU financing official told EUobserver. Some smaller wind projects are having trouble finding financing Two days ago, Siemens Wind Power laid off some 400 production workers in Denmark, following similar recent cutbacks at LM Glasfiber - also based in Denmark - and the largest producer of wind turbines in the world. Experts, such as Christian Kjaer of the head of the European Wind Energy Association say actual orders for turbines in Europe have not dried up. But expectations of explosive growth in the sector are being re-adjusted. "The lay-offs are not because of a drop in demand - yet," the EU official explained. "Hiring had been based on the expectation that such growth would continue, and now there are doubts that it will."
EUOBSERVER / BRUSSELS - European wind energy projects are finding it hard to get finance as the economic crisis begins to pinch, with smaller manufacturers announcing hundreds of lay-offs despite the robust performance of the sector heading into the downturn.
"There was such high demand six months ago, you had to stand in line to purchase windmill parts, but now the order books seem to have lightened somewhat," a senior EU financing official told EUobserver.
Some smaller wind projects are having trouble finding financing
Two days ago, Siemens Wind Power laid off some 400 production workers in Denmark, following similar recent cutbacks at LM Glasfiber - also based in Denmark - and the largest producer of wind turbines in the world.
Experts, such as Christian Kjaer of the head of the European Wind Energy Association say actual orders for turbines in Europe have not dried up. But expectations of explosive growth in the sector are being re-adjusted.
"The lay-offs are not because of a drop in demand - yet," the EU official explained. "Hiring had been based on the expectation that such growth would continue, and now there are doubts that it will."
