Europe's plans for offshore wind power up to 2020 could be as much as 50 billion euros ($65.55 billion) short of funding, the Boston Consulting Group (BCG) said in a study released on Thursday.
Articles filed under Offshore Wind from Europe
RWE AG (RWE) is delaying investments. SIAG Nordseewerke GmbH filed for insolvency. REpower Systems SE is cutting temporary staff. All show how German Chancellor Angela Merkel’s 550 billion-euro ($734 billion) plan to replace nuclear reactors with renewable sources is stalling.
Norway put development of its first planned offshore wind farm on hold until further notice, with the company involved citing a lack of political support, a setback in European efforts to boost renewable energy production.
Insurers are increasingly concerned about the mounting number of expensive cable-installation claims in offshore wind projects, with the large number of incidents put down to a complex mix of human factors and technical issues.
The case centres on work carried out on 52 of the 140 turbines, with Fluor claiming there was a design change which amounted to a change in specification, meaning it should be paid for the resulting costs. ...SSE expects Greater Gabbard Offshore Winds will continue to pursue its claim against Fluor regarding the structural integrity of the 52 disputed turbines.