P.N.Rasmussen
According to former Danish prime minister Poul Nyrup Rasmussen, the offshore wind energy sector could help Europe get back on its feet after the current financial crisis. “If the sector understands their role I’m sure they could take the lead in bringing Europe out of the crisis, as the first mover”, he added in a recent interview with Wind Directions.
He even considered the sector’s biggest challenge in the next few years to be addressing its potential role as “the breaker in the markets going against the [financial] crisis.” As a Dane and a former politician, Rasmussen is no stranger to wind energy. Now, he has consolidated his familiarity with the sector as Chairman of Lindoe Offshore Renewables Centre (LORC), a Danish organisation that tests and demonstrates technologies for harvesting renewable energy offshore.
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Wind energy made a splash in many media sources this week with news that the sector continues to grow despite the economic gloom gripping Europe. Here’s a short round-up of what the papers said:
This week the European Wind Energy Association (EWEA) released new data showing that the wind energy sector in Europe added 9,616 MW of new wind energy capacity last year – making up over a fifth of total new power installations, the Guardian reported. The EWEA points out that the industry has delivered an average annual growth of almost 16% over the last 17 years, the article adds.
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Every day newspapers are full of the latest Eurozone crisis. In 2010, Tom Murley from private equity firm HgCapital described the economy to Wind Directions as having had the equivalent of “open-heart surgery”. Today, he says: “Depending on what happens with the Eurozone we may be wheeling the economy back into surgery again.”
The offshore wind energy industry is particularly vulnerable to the current squeeze. Banks are now having to pay more for the long-term loans the sector requires, so they are becoming more reluctant to offer them.
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By EWEA Communication Director Julian Scola
In recent months there have been many media articles claiming that wind energy is more expensive and less reliable than other power sources, and that it receives heavy government subsidies. Such claims damage the perception of this cheap and clean form of energy.
The reality is that wind energy, and renewables in general, are successful because investors see that onshore wind is increasingly competitive with new gas and coal and is cheaper than nuclear, in an environment in which governments have made commitments to reducing carbon emissions, and where the public wants a safer, cleaner world without constant fluctuations in energy prices. Current data from Bloomberg New Energy Finance says that “funding of green energy projects rose by 5% last year” to $260bn worldwide. Another Bloomberg quote says “the best wind farms in the world already produce power as economically as coal, gas and nuclear generators; the average wind farm will be fully competitive by 2016”.
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By Tuuliki Kasonen, General Manager, Estonian Wind Power Association
Offshore wind energy is an innovative new industry, which by creating thousands of jobs and intensive investments gives Europe a necessary impulse for economic growth. It can also provide the missing pieces in the energy and climate puzzle that Europe needs to solve urgently. What I brought home from EWEA OFFSHORE 2011 – the world’s largest offshore wind energy event – was the feeling that the next decade will be crucial for bringing down the costs and filling some gaps to make this type of energy production a really competitive one.
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