Crisis Hampers EU Wind Power In Short-Term – Lobby

The economic downturn is delaying wind power projects in the European Union but the negative impact will not last because of strong sector fundamentals, a European wind power lobby said on Monday.

“There is a slowdown in the sector, we are seeing some signs, but much less than in other sectors,” Arthouros Zervos, president of the European Wind Energy Association (EWEA), told Reuters on the sidelines of a wind conference.
Michael Liebreich, analyst with consultancy firm New Energy Finance, said he believed between 10 and 15 percent of all new projects in Europe in 2009 would be delayed or cancelled.

The wind energy sector was attracting new sources of capital that compensated for banks’ reluctance to provide debt finance for projects, the EWEA said.

“A growing number of power companies with strong balance sheets are investing in wind energy and there is increasing interest from institutional investors,” it added.

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