Friday express 25 of November 2022

European week energy highlights

Photo by Andras Kovacs on Unsplash

Energy highlights:

1) European wind turbine manufacturers face financial losses

2) Offshore winds tenders face headwinds in Europe

3) European Parliament approved motion to start a coordinated exit from the Energy Charter Treaty

1) European wind turbine manufacturers face financial losses

European wind turbine manufacturers face financial losses and layoff workers. Despite an apparently favorable scenario, with the EU doubling down on the transition to renewable energy while leading the sector, European companies face negative profits and layoffs.

Reasons vary from increased Chinese competition, supply chain issues, inflation, permitting woes, and uncertainties over the EU plan to address energy price increases.

2) Offshore winds tenders face headwinds in EuropeSeveral offshore winds tenders and projects face headwinds in Europe:

-Spain: only 46MW of the overall 3.3GW tender ended up awarded. Companies complained of an irrealistic low price of €47/MW and slow permitting worries;

-France: early this month Shell and its partners quit a French floating wind pilot, citing doubts about inflation and supply chain issues.

-Last month, Germany faced similar problems, albeit at a smaller scale, when only 772MW out of 1.3GW ended up subscribed;

3) European Parliament approved motion to start a coordinated exit from the Energy Charter Treaty

After several EU countries had already left the Energy Charter Treaty (ETC), European Parliament approved a motion asking the EU commission to start a coordinated exit from the treaty.

The EU Commission has been renegotiating the ECT since 2017, with increasing pushback from its member countries because of fear it can delay the transition to renewable energy.

Germany, France, the Netherlands, Poland, Spain and Italy already left the ETC.

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Architect with scholarly background. Writing on the intersection of Buildings, Energy & Environment with People. Top writer in Energy. @miguel_pacheco@masto.pt

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Miguel Pacheco

Architect with scholarly background. Writing on the intersection of Buildings, Energy & Environment with People. Top writer in Energy. @miguel_pacheco@masto.pt