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Industry group WindEurope said on Tuesday that European investment in new wind projects fell nearly 25 percent in 2019 to 19 billion euros ($20.
7 billion) compared to the same period last year, and projects could face financing delays
this year.
WindEurope said in its annual report that it would include refinancing, acquisitions and other transactions related to existing wind farms, with total investment in Europe at €52 billion in 2019, €5 billion less than in 2018
.
"Wind energy projects are an attractive investment and there should be enough money to finance
them in the long term," the report said.
”
WindEurope added, "In the short term, the global economic situation caused by the COVID-19 pandemic is uncertain and will inevitably delay raising funds
for new wind farms.
”
The agency said reducing liquidity in debt markets would make lenders less likely to provide funding, although under normal circumstances, the current low interest rates would make it a good time
to borrow and invest for the long term.
A three-month delay in wind farm construction and project financing could mean that new investment in the sector in 2020 will be the same as
in 2019, the report said.
Growth beyond this level will depend on whether the market fully recovers
in 2020.
Industry group WindEurope said on Tuesday that European investment in new wind projects fell nearly 25 percent in 2019 to 19 billion euros ($20.
7 billion) compared to the same period last year, and projects could face financing delays
this year.
WindEurope said in its annual report that it would include refinancing, acquisitions and other transactions related to existing wind farms, with total investment in Europe at €52 billion in 2019, €5 billion less than in 2018
.
"Wind energy projects are an attractive investment and there should be enough money to finance
them in the long term," the report said.
”
WindEurope added, "In the short term, the global economic situation caused by the COVID-19 pandemic is uncertain and will inevitably delay raising funds
for new wind farms.
”
The agency said reducing liquidity in debt markets would make lenders less likely to provide funding, although under normal circumstances, the current low interest rates would make it a good time
to borrow and invest for the long term.
A three-month delay in wind farm construction and project financing could mean that new investment in the sector in 2020 will be the same as
in 2019, the report said.
Growth beyond this level will depend on whether the market fully recovers
in 2020.
