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According to a recent report released by the European wind power association WindEurope, despite the pandemic, European investment in new wind farms reached 42.
8 billion euros in 2020, the second highest recorded after 2016 and an increase of about 75%
compared to 2019.
These investments finance the 19.
6 GW of capacity that will be built over the next few years
.
About 13 GW of that will be located in the EU
.
Of the total investment, a record €26.
3 billion is spent on offshore wind projects, which will provide 7.
1 GW of installed capacity, which is also a record figure
.
Last year, offshore wind investment was driven by large projects such as Dogger Bank in the UK and Hollandse Kust Zuid offshore wind farm
in the Netherlands.
Investment in new onshore wind farms totalled €16.
5 billion, the lowest since 2017, covering 12.
5 GW of new onshore capacity
.
WindEurope said this level of investment is still insufficient to meet Europe's climate and energy goals
.
According to the trade body, the EU will need to install 27 GW of wind energy per year to meet its new 55% reduction target
by 2030.
In addition, the agency called that despite the promising investment, the main obstacle is the slow approval process, and that the government should simplify licensing rules and increase the staffing
of licensing authorities.
The country that invested the most in new wind energy was the United Kingdom, with an investment of 13.
5 billion euros.
It is followed by the Netherlands (€7.
9 billion), France (€6.
5 billion) and Germany (€4.
3 billion).
In addition, Turkey and Poland each invested EUR 1.
6 billion.
WindEurope also noted that corporate power purchase agreements (PPAs) are playing an increasingly important role
in supporting wind farm financing.
Last year, 24 new wind PPAs covered more than 2 GW of capacity
.
According to a recent report released by the European wind power association WindEurope, despite the pandemic, European investment in new wind farms reached 42.
8 billion euros in 2020, the second highest recorded after 2016 and an increase of about 75%
compared to 2019.
These investments finance the 19.
6 GW of capacity that will be built over the next few years
.
About 13 GW of that will be located in the EU
.
Of the total investment, a record €26.
3 billion is spent on offshore wind projects, which will provide 7.
1 GW of installed capacity, which is also a record figure
.
Last year, offshore wind investment was driven by large projects such as Dogger Bank in the UK and Hollandse Kust Zuid offshore wind farm
in the Netherlands.
Investment in new onshore wind farms totalled €16.
5 billion, the lowest since 2017, covering 12.
5 GW of new onshore capacity
.
WindEurope said this level of investment is still insufficient to meet Europe's climate and energy goals
.
According to the trade body, the EU will need to install 27 GW of wind energy per year to meet its new 55% reduction target
by 2030.
In addition, the agency called that despite the promising investment, the main obstacle is the slow approval process, and that the government should simplify licensing rules and increase the staffing
of licensing authorities.
The country that invested the most in new wind energy was the United Kingdom, with an investment of 13.
5 billion euros.
It is followed by the Netherlands (€7.
9 billion), France (€6.
5 billion) and Germany (€4.
3 billion).
In addition, Turkey and Poland each invested EUR 1.
6 billion.
WindEurope also noted that corporate power purchase agreements (PPAs) are playing an increasingly important role
in supporting wind farm financing.
Last year, 24 new wind PPAs covered more than 2 GW of capacity
.
