01 Jul '13, 1pm

Can Europe Meet Its 2020 Offshore Wind Targets?

LONDON -- Uncertainty around subsidies and the need to unlock new capital are holding back investment in European offshore wind, according to a new report that surveyed 200 senior wind industry executives. Law firm Freshfields Bruckhaus Deringer's report European Offshore Wind 2013: Realising the Opportunity surveyed the executives over April and May 2013 on the offshore wind industry in the UK, France, Germany and the Netherlands. It found widespread concern that a lack of equity and changes to subsidy mechanisms constitute a real risk to the future of offshore projects. Meeting 2020 Targets a Tall Order Very few survey respondents believe Europe will meet its 2020 capacity targets for offshore wind, the report said. National Renewable Energy Action Plans (NREAPs) specify around 43 GW of offshore wind capacity to be installed in European waters by 2020, with 18 GW in the ...

Full article: http://www.renewableenergyworld.com/rea/news/article/2013...

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