European Wind Commission announced a report which says that the European wind market is currently stalled but a bright future lies ahead.
“The European Union market is wavering between the flagging onshore market and the logistics, technology and industrial preparations for the huge, offshore wind energy market with its rich pickings,” the report says.
There are several offshore wind projects undergoing construction phases.
Production of electricity has also increased and it accounts for about 5% of the EU’s total power requirements.
“The recession has delayed the granting of a number of loans and led to project commissioning postponements. However the main reason is that heavy intervention is being used to control the development of most of the European Union’s major markets. In these times of crisis, many governments have reduced domestic market growth by slowing down authorization procedures and applying more binding administrative procedures,” reads the report.
[mappress]
Offshore WIND staff, March 08, 2012