Page added on June 4, 2009
(Bloomberg) — As much as 100 billion euros ($143 billion) in planned investments in German offshore wind farms are at risk as developers struggle to get funding, jeopardizing the deepest emissions cuts in the European Union.
Bochum
Germany wants to add up to 25 gigawatts of wind energy by 2030, according to the Environment Ministry, enough to power about 25 million homes a year, at a cost of as much as 4 million euros per megawatt of installed capacity. Banks are only lending about half the 100 million euros they handed out in 2008. That will make it harder for the country to curb carbon-dioxide emissions by 40 percent in real terms by 2020 compared with 1990 levels, as nuclear plants are phased out.
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