At a conference today in Berlin, German Economy Minister Philip Rösler called on the European Union to promote institutional investment in energy by making it easier for investors, such as insurance companies, to fund energy infrastructure within the Union, Bloomberg reports.
He said that he already talked with the EU’s financial services chief Michel Barnier about changes that could form part of the EU’s Solvency II rules.
These changes, proposed by the Minister himself, could help fund grid connections and power-line projects for offshore wind farms, as institutional investors are willing to fund large energy projects that bring great long-term returns at a time of low interest rates, Bloomberg cites Minister Rösler’s explanation.
Under the Solvency II rules, the companies must distribute the same capital reserves against the risks they take.
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Offshore WIND Staff, January 22, 2013; Image: it-gipfel