MEDIA RELEASE PR37902
Middle East Energy Investors Catch Wind of German Offshore Opportunities
BERLIN and ABU DHABI, Jan.16 / PRNewswire - AsiaNet / --
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.
Eva Henkel
Phone: +49(0)30-200-099-173
Fax: +49(0)30-200-099-111
Email: Eva.Henkel@gtai.com
SOURCE: Germany Trade & Invest
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