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Offshore wind news

by Jerome a Paris Wed Jul 27th, 2011 at 08:00:38 AM EST

The EWEA has published its semestrial report on offshore wind construction (which can be read here (pdf) and are reported in the Guardian).

I wrote the part on financing for the update, and enclose some extracts below the fold.


Several positive trends can be noted with respect to these transactions and the overall market:

• the number of banks willing to take offshore wind risk is steadily growing - more than 20 institutions have now obtained firm credit committee approval to take offshore wind risk;

• the recently unveiled KfW programme for offshore wind (announced in early June), which will provide up to €5 billion to ten projects in Germany, is a major step towards ensuring the development of non-recourse financing in that country. Two transactions expected to close shortly (Globaltech 1 and Meerwind) have tapped into the programme and will demonstrate its capacity to provide both volume and cheaper funding to the sector;

• Danish export credit agency EKF and the European Investment Bank (EIB) continue to support transac- tions as they did in the past; the arrival of new banks and of KfW is slowly allowing EKF and the EIB to reduce their volume of new commitments, but their participation in new financing is still seen as positive by investors and commercial lenders alike and continues to be sought;

• The UK’s Green Investment Bank, announced in May, should provide additional financing capacity to the industry once it is up and running

Display:
on one of the "imminent" deals, which is why you're not seeing much of me on ET these days.

Wind power
by Jerome a Paris (etg@eurotrib.com) on Wed Jul 27th, 2011 at 08:01:11 AM EST
Good stuff, well done

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Wed Jul 27th, 2011 at 08:37:51 AM EST
Good stuff.   Link to PDF doesn't seem to work

Index of Frank's Diaries
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Wed Jul 27th, 2011 at 03:26:12 PM EST
Yep: 404.
by Bernard on Wed Jul 27th, 2011 at 03:40:24 PM EST
[ Parent ]
(but it seemed to be the same)

You can find it via here

Wind power

by Jerome a Paris (etg@eurotrib.com) on Wed Jul 27th, 2011 at 03:49:30 PM EST
[ Parent ]
Thanks

European Wind Energy Association - EWEA: EU offshore wind power shows solid growth in first half of 2011

"While I see several positive trends for the European offshore wind power industry, we are not home and dry yet.

Strange for the offshore wind energy industry to want to be "home and dry"!

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Wed Jul 27th, 2011 at 04:52:33 PM EST
[ Parent ]


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