It could allow over 1.4 GW of onshore projects to move into construction over the next three years. Three commercial banks - RBS, Lloyds and BNP Paribas Fortis - will provide up to £700 million, matched by another £700 million of new finance from the EIB. The funding is targeted at small and medium-sized developers that have struggled to access project finance over recent months. This means that the loans will only be available to onshore projects that have a total project costs range between £20 million and £100 million. Project finance for onshore wind power has dropped from £336 million to £54 million so far this year, according to research carried out on behalf of the British Wind Energy Association (BWEA). Yet over the same period, on balance sheet investments have increased from £212 million in 2007 to £920 million. "Wind energy has never been a risky investment. In fact, wind farms in the UK have never defaulted on their loans," says BWEA chief executive Maria McCaffery. But turbulence in the financial markets has reduced the availability of debt finance for smaller and medium-sized projects, she adds.
United KingdomUnited Kingdom
Leading business intelligence for the wind community.
- In-depth news, analysis, market insight and trends.
- Take your 7 day free trial today.
Balkan state expects to announce the winners in the country’s first onshore wind tender in the first half of 2023
The Danish manufacturer will supply TTR Energy with 30 of its V150-4.2MW turbines for a wind farm in Marne, northern France
Investments in renewables in Asia Pacific are set to rise in the next decade, while fossil fuel spending is due to decline
The German manufacturer secures new 199.5MW order for four projects in booming Finnish wind market
Government and investor ambition could be thwarted by supply chain constraints and poor frameworks, consultancy RCG warns
Australia’s environment department flags impacts on wetlands and migratory bird species in decision on Asian Renewable Energy Hub
Spanish engineering firm aims to install three 15MW turbines on its Sath (swinging around twin hull) concrete floating platforms
Spanish energy and engineering company Acciona reveals details of upcoming IPO for renewable energy unit
Wind energy has much to contribute to the energy transition — exactly how much will depend on government policies
Turbine Sales Tracker Quarterly Report: Q1 2021
Siemens Gamesa’s Morten Vindbjerg discusses how advances in imaging technology, artificial intelligence (AI) and big data are being harnessed to optimise the maintenance of blades
Read on for tips and analysis shared by environmental, energy and offshore experts during an Windpower Monthly-ENDS Report roundtable discussion
Pegasus & WBD
Does the key to cutting O&M costs lie in improving the efficiency of technicians and the use of digital technologies? Read this Windpower Monthly & LexX Technologies Report to find out...
Ingeteam’s market-leading converters are supported by a robust Firmware development methodology designed to simplify wind turbine converter validation and certification