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Middle East Energy Investors Catch Wind of German Offshore Opportunities
Berlin / Abu Dhabi (ots) - Investors from the Middle East are expressing a growing interest in large-scale, sustainable industries, including Germany's renewable energies industry. Developments in the offshore wind energy industry make it one to watch for investors. Germany's first wind park was recently completed and German wind companies are strongly represented in a number of European offshore projects. The investment potential in German offshore projects will be one theme at this year's World Future Energy Summit in Abu Dhabi from January 18-21, 2010. Germany Trade & Invest will present these opportunities at a roundtable discussion.
The completion of the alpha ventus offshore wind farm in November, a pilot project led by EWE, E.ON Climate & Renewables, and Vattenfall Europe New Energy, marks the most significant recent development in Germany's offshore industry. By removing several obstacles to offshore wind energy generation, it paves the way for new offshore parks that are in late planning stages. The venture consists of 12 five-megawatt wind turbines located 45 kilometers off the island of Borkum in the German Bight at a water depth of about 30 meters.
Investors from the Middle East are currently drawn to sustainable, long-term industries. Masdar, for example, a state-owned enterprise of the United Arab Emirates, already operates a thin-film solar module plant in Germany that serves as a technology reference point for its operations abroad.
Johannes Dimas, Senior Manager for the wind energy industry at Germany Trade & Invest will moderate a roundtable discussion for interested investors on Germany's opportunities. According to Dimas, "Players in Germany's wind energy industry face ideal conditions, making our industry increasingly attractive to investors from the Middle East. Germany's supply industry is a world leader with an exceptional export ratio. Incentives have been tailored to virtually eliminate risk. High feed-in tariff rates are guaranteed for 20 years, which boosts short-term profitability."
Government Support Stimulates Industry
With a EUR 30 billion industry and an export quota above 80 percent in 2008, Germany is ideal for investors seeking to enter the wind energy sector. The industry is supported by a raft of measures from the country's economic stimulus package and the Renewable Energy Sources Act (EEG in German). This law requires power companies to buy energy from owners of renewable energy installations at a rate that is above the standard retail price. Revisions in 2009 have given a significant boost to wind energy in particular. For offshore sites, transmission system operators are required to provide grid connections at sea, which marks a clear reduction in risk for investors.
Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.
Phone: +49 (0)30 200 099-173
Fax : +49 (0)30 200 099-111