Germany, Turkey and UK Outperform In Renewables Prospects
Europe remains a global powerhouse for installed renewables capacity even though the long-term outlook for renewables is highly divergent with some countries presenting greater investment opportunities than others. Across both Western Europe and Central and Eastern Europe (CEE), we see Germany, the UK and Turkey emerging as the key markets; with strong project pipelines, robust growth potential and relatively attractive investment climates for developers.
Europe, and specifically the European Union (EU) has long been viewed as a global powerhouse for renewable energy, primarily due to its strong green credentials and ambitious renewables goals, in the form of its 20'20'20 energy and climate package. That said, we have commented recently that we believe we are witnessing a slight policy slippage in terms of renewable energy in Europe, as rising concerns over the region's competiveness compete with green energy policies. We believe this viewpoint was encapsulated by the announcement of the proposed EU 2030 climate and energy targets in late-January 2014, which proposed an EU-wide binding renewable energy target, but is not mandated at the individual member state level ( see 'EU 2030 Energy And Climate Package: Playing It Safe', January 24 2014). Despite this long-term policy uncertainty, investment is continuing to pour into the region's renewables market and there is still ample growth opportunities present in the region.
By employing various analytical techniques, using BMI's proprietary databases, we are able to pinpoint where these opportunities lie. These tools include: 10-year renewables capacity forecasts, our Renewables Risk/Reward Ratings and the Renewables Projects Database.
Wind On The Rise Wind Capacity By Country (MW), 2013-2023