Lack of Funds Causes Slow Energy Reform in Germany

There are many reasons for slow energy reform in Germany. One of them is unwillingness of the banks to approve funds for offshore wind development.

Alstom Deutschland AG offers a wide range of offshore wind related products, but they have also been encountering project financing related issues. These difficulties are in close connection to offshore wind project realization and grid connection of those projects.

This market is facing a great uncertainty when it comes to the unsuccessful financing of offshore wind projects thus banks are avoiding to finance such projects.

Trianel is only one company among many encountering similar difficulties. They have secured funds for the first phase of Borkum West II, however the funding of the second phase still remains uncertain.

[mappress]

Offshore Wind Staff, January 6, 2012 ; Image: alpha ventus