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Increasing Investment in European Solar and Wind Assets
EU - Annual investments in European solar and wind assets are expected to increase from € 23 bln in 2008 to around € 85 bln in 2020 based on Rabobank Clean Tech Research installed capacity forecasts.The forecast came from Tanja Cuppen, Global Head of Corporate Finance of Rabobank International, during the Renewable Energy Finance Forum (REFF) conference in London this week.
Cuppen was one of the key members of Financial Sector Response panel during the Renewable Energy Finance Forum (REFF) London, Europe's largest event for renewable energy finance and investment.
The conference united investors with project developers and senior executives from across the renewable energy and technology sectors. Rabobank was one of the main sponsors of the event.
"With the credit crunch affecting the market, Rabobank predicts a shortage in debt financing for renewable energy assets to develop towards 2020. This could mean that the fast growth in renewable energy assets will be delayed," Cuppen said.
Most financing of renewable energy projects is currently taken on by banks and energy companies. But Rabobank would like to interest other financial institutions, such as pension funds and insurance companies, to also invest in renewable energy assets - their more active presence in the market would lessen the capital shortage.
Cuppen also stressed that Rabobank Group, with an investment portfolio in clean technology of EUR 20 bln, has a long term committment to sustainability and financing clean technology. Rabobank is currently expanding its presence in sustainable energy globally.
A tell-tale sign of Rabobanks commitment to financing renewable energy is the renaming of its project finance department into REIF: Renewable Energy & Infrastructure Finance.
In this field, Rabobank focuses in particular on wind farms, solar installations, and biomass-based energy-generators.
TheBioenergySite News Desk
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