'Huge Day' for Europe's Wind Energy Industry

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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--The commitment to the European Wind Charter by 26 of the 27 European Union (EU) Member States has been hailed as a "huge day" for the sector by industry representatives.

The European Wind Charter sees most countries, except Hungary, and 300 companies from the wind energy sector committing to deliver on the actions set down in the European Wind Power Action Plan. Of those, 21 have already responded to the request in the Action Plan to commit to specific, concrete pledges on wind energy deployment volumes for at least the period 2024-2026, the European Commission (EC) stated. The Action Plan will focus on acceleration of deployment through increased predictability and faster permitting, improved auction design, access to finance, creating a fair and competitive international environment, skills and industry engagement and Member State commitments. Industrial Info is tracking almost 4,500 onshore and offshore wind projects in Europe with a potential investment value in excess of US$860 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for the reports.

It comes at a difficult time for the European wind sector, which has seen reduced installations, higher production costs and calls from the industry for protection against cheaper Chinese imports. In 2022, the EC noted that "all of the largest wind turbine manufacturers reported significant operating losses...and with 16 gigawatts (GW) of new wind projects installed in 2022 we are nowhere near the 37 GW per year needed as a cost-effective contribution to achieving the EU 2030 targets. This situation calls for immediate action. The EU cannot double the pace of wind energy deployment without a healthy, sustainable and competitive wind supply chain. And the wind industry cannot be healthy without a clear and secure pipeline of projects, attracting the necessary financing and competing on a level playing field globally." In November, the EC launched its Innovation Fund 2023, earmarking a record 1.4 billion euro (US$1.5 billion) for "cleantech" manufacturing projects focusing on those producing components for renewable energy, energy storage, heat pumps and hydrogen production.

"Today is a huge day for Europe's wind energy industry. 26 countries have committed to implement the actions set out in the EU's excellent Wind Power Package," said Giles Dickson, chief executive officer of industry representative body WindEurope. "The actions on permitting, finance and auctions will help boost the expansion of wind energy and strengthen Europe's wind industry. This is good for jobs and growth and for Europe's energy security. And it shows Europe as a whole understands the urgent need to strengthen its wind industry."

European Commissioner for Energy Kadri Simson commented: "So many Member States and CEOs of the wind energy sector signing up to the Energy Charter confirms the EU's collective determination to have a strong and robust European wind industry. The Charter is the first deliverable of the European Wind Power Action Plan, published less than two months ago to boost the global competitiveness of the EU's clean tech industry."

Europe's wind targets, according to the EC, will "require a massive increase in wind installed capacity with an expected growth from 204 GW in 2022 to more than 500 GW in 2030." Last April, Industrial Info reported on Europe's doubling down on green energy targets. The EU voted to double the use of renewable energy over the next seven years to 42.5% of its total energy needs. The revised Renewable Energy Directive (RED) will replace the EU's current target for a 32% share of renewable energy by 2030. In 2021, the Union got 22% of its energy from renewable sources--down slightly on 2020, due mainly to the COVID-19 pandemic's impact on project rollout. For additional information, see April 11, 2023, article - Europe Doubles Renewable Energy Target for 2030. In May, nine EU nations banded together to jointly back the creation of 120 GW of offshore wind in the North Sea by 2030 and at least 300 GW by 2050. For additional information, see May 3, 2023, article--EU Nations Promise to Double Offshore Wind Targets.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).