International Executives Back Germany Offshore Wind Development
Germany has put forward plans to scale back support for Offshore Wind which includes a reduction to the current feed-in tariff [FIT]. Under the current regulations, the FIT will allow 19 cents/kWh to be grant for the first eight years of operation of an offshore wind farm which is fully grid connected by 2017 according to the Stiftung OFFSHORE-WINDENERGIE.
The FIT subsidies are essential to ensure investment required for the development of offshore wind parks. Due to the increase in size of the parks and their distance from land, cost have escalated to a point where offshore utilities and developers are no longer able to develop the projects from their balance sheets alone and as such have to seek outside investment for their projects.
Initial proposals to introduce retroactive cuts to the FIT for operating projects have been rejected by Chancellor Angela Merkel, but talks continue about reducing the FIT for future projects. The German Federal election in September 2013 will determine whether the Renewable Energies Act will be amended, which could alter the economic conditions for German offshore wind farms.
In a show of support for the German offshore wind industry, the International Offshore Wind Construction, Installation and Commissioning Conference will return to Hamburg on the 14th and 15th October. Offshore developers and EPC contractors will come to Germany from the United Kingdom, Denmark, Belgium, and the Netherlands to discuss how to use their latest project, operational and technical experience to enhance execution of future offshore wind projects.
“Wind Energy Update is proud to be the primary source of exclusive, industry demanded information surrounding offshore wind construction” says Jon Harman, the Managing Director from Wind Energy Update. “As an organization, we understand how to drive both a company’s growth and profits, and we will strive to provide the audience with the targeted material and individuals that they need to achieve them”.
50Hertz Transmission, BARD Holding, DONG Energy, Elia Group, EnBW, Iberdrola / Scottish Power Renewables, Mainstream Renewable Power, Northland Power, OpenHydro, RES Offshore, RWE Innogy, Stiftung Offshore-Windenergie, STRABAG Offshore Wind, TenneT TSO GmbH, The Crown State, GDF Suez, Vattenfall are just a few of the international offshore wind industry companies who will meet this October in Hamburg to discuss, debate and appraise the latest strategies to reduce costs, optimize efficiency, and improve overall ROI.
Press release, July 24, 2013