Banks: Substantial Growth in EU Offshore Wind Power Investments

Brussels, November 16 (ots/PRNewswire) -

As Europe faces the danger of recession, one industry is planning
massive growth.

The European offshore wind industry is set to more than triple
its annual investments over the next decade - creating jobs,
manufacturing and construction opportunities in many countries. At
the end of the month, the world's largest offshore wind power event
takes place in Amsterdam where leading industry figures and investors
will discuss how offshore wind can replicate the success of the
onshore industry.

The 7,500 participants will include the global investor
Blackstone, the Dutch Rabobank, the Danish Export Credit Fund, ING
Bank, Green Giraffe Energy Bankers, financial analysts Bloomberg,
many Chief Finance Officers of European utilities and public
financing institutes like Norddeutsche Landesbank. Not to mention
wind turbine manufacturers, wind farm developers and other
participants in the growing offshore wind industry.

The European Wind Energy Association expects annual investments
in the European offshore wind industry to reach 10 billion Euros by
2020.

The offshore wind industry has shown strong growth despite
difficulties in accessing financing due to the financial crisis
(installations in 2011 are expected to be 13% up on installations in
2010).

"So far the financing squeeze has not really been felt very much
in the offshore wind industry," said Henrik Stiesdal, Chief
Technology Officer of Siemens Wind Power.[1] "I guess the main
reasons are that many deals are balance sheet financed by very solid
companies, and that many parties can clearly see the long-term
solidity of the business. In that respect we are very different from
many other businesses."

"As Europe struggles to avoid economic standstill, this gathering
of the offshore wind industry could hardly be more timely," said
Christian Kjaer, Chief Executive of the European Wind Energy
Association (EWEA). "Offshore wind energy is a new industry with huge
potential in which European companies are world leaders. Europe needs
this industry to take off more than ever before."

EWEA OFFSHORE 2011 takes place at Amsterdam RAI from 29 November
until 1 December 2011.

For more information, please see the EWEA OFFSHORE 2011 website
[http://www.ewea.org/offshore2011 ].

EWEA - European Wind Energy Association asbl/vzw

[1] In: Wind Directions,the European Wind Industry Magazine,
EWEA, December 2011, WD Volume 30/No 5, to be published on 30
November 2011.

ots Originaltext: European Wind Energy Association (EWEA)
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