Wind Investment in Europe Is Plummeting When It’s Most Needed
Wind turbines in Brandenburg, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Investment in new wind farms slumped to the lowest in more than a decade in Europe last year, hit by rising costs and red tape that threaten to undermine the region’s energy security and climate targets.
The €17 billion ($18 billion) spending was less than half the amount in 2021 and the least since 2009, according to a report by WindEurope. Investors only funded 10 gigawatts of new capacity in the European Union last year, far short of the annual 31 gigawatts that the group says is needed to meet the bloc’s environmental goals.