Spain-based Iberdrola has announced that it is exiting the German wind energy market and has sold its remaining assets in the country to Germany-based utility MVV Energie AG.
Under the recently signed agreement, Iberdrola sold seven onshore wind farms, all located in Germany, to MVV. The projects have a total installed capacity of 62.9 MW.
German courts are starting to deal with a unique new crime - stealing wind.
As Europe's greenest country builds ever more electricity-producing wind farms, so the rights to nature are now being fought over by lawyers.
Among the cases being considered by a Leipzig court is a dispute between the operators of two wind turbine facilities. At issue: who owns the wind?
The concerns show that wind developers are beginning to face the same scrutiny as oil companies for projects in sensitive places, a trend likely to add costs and slim profit margins that already are razor-thin. That adds another hurdle to Chancellor Angela Merkel's effort to build up offshore wind as an alternative to atomic power.
“There's legitimate debate about a couple of segments,” says Keith Raab, boss of Cleantech Venture Network. In some instances, valuations accorded to firms with no profits—and little chance of making any soon—were reminiscent of the excesses of the dotcom bubble. As Douglas Lloyd, of Venture Business Research, puts it, “There's too much money chasing too few opportunities. How is it possible that this many solar companies are going to succeed? They're not.”
“The fundamental question is whether we want to push through this crazy 80 percent renewable energy share at the expense of the economy,” said Marc Tenbieg, managing director of the DMB Deutsche Mittelstands-Bund, which represents more than 14,000 small and mid-sized enterprises. “Why do we always have to be the trailblazer and show the other countries how it’s done? They are laughing their heads off.”
Opponents of wind farms in the US and Canada insist that low-frequency noise generated by turbines is detrimental to human health. But in Germany, experts aren't convinced that infranoise poses a threat.
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