Middle East Energy Investors Catch Wind Of German Offshore Opportunities

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16th January 2010, 12:18pm - Views: 323

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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


    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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