New wind farms invested in by Europe totals €41bn: In 2021, Europe spent an increasing total of €41 billion (£34.6bn) on new wind energy projects.
WindEurope’s current report indicates the whole investment was less by 11%, when related to 2020.
Nevertheless, the writers of the report mention the investments included 24.6GW of installations, which is a record for new capacity backed in a one year alone.
The majority (a predicted 19.8GW) of the new wind farms were onshore & was somewhat due to the lower cost of this technology as reported by the study.
The report further indicates the investments were well dispersed geographically, counting 11 countries investing over €1 billion (£850m).
The UK invested the most, with nearly all investments promoting offshore wind.
The next countries in line were Germany, France, Spain, Sweden and Finland, after the UK.
Spain invested more in onshore wind. Sweden, Finland, Poland and Lithuania all invested the most in new farms compared to what they had done in any past year.
WindEurope published a paper, several months ago, which discovered that the European wind energy capacity set up in 2021 was lower 1/2 of what Europe should be installing to hit its 2030 energy and climate targets.
New wind farms invested in by Europe totals €41bn