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Germany Subsidises Windfarms Offshore

Page history last edited by Malcolm 9 years ago

EU approves German aid to support construction of 20 offshore wind farms

Date: 17-Apr-15
Country: BELGIUM
Author: Julia Fioretti

 

EU approves German aid to support construction of 20 offshore wind farms Photo: Fabian Bimmer
A view shows windmills of several wind farms at the so-called ''HelWin-Cluster'', located 35 kilometers (22 miles) north of the German island of Heligoland, November 5, 2014.
Photo: Fabian Bimmer

The European Commission on Thursday gave Germany the green light to support the construction of 20 offshore wind farms by paying operators a premium on top of the market price for electricity, it said in a statement.

The Commission concluded that the projects would contribute to reaching Germany's 2020 targets for renewable energy without distorting competition. The total investment costs amount to 29.3 billion euros ($31.19 billion).

Under EU law, the Commission can order the recovery of state aid given to companies if it finds it distorts competition.

The Commission said that the wind farms will enable new electricity providers to enter the German market.

E.ON, RWE, Vattenfall [VATN.UL] and EnBW have all said in the past that they wanted to be part of the construction of offshore wind farms in Germany.

(Editing by Robert-Jan Bartunek)

 

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