Post by nautonnier on May 12, 2019 16:36:59 GMT
All of a sudden the subsidy farmers are finding the guaranteed subsidies harvest is weak; not only that but the lifetime of the subsidy farm markers that provide the electricity generation by product, is disappointingly short and maintenance costs and all lifetime costs are a lot higher than expected.
In consequence expect bankruptcies and subsidy farms being abandoned.
"Is the Long Renewables Honeymoon Over?
Dr John Constable: GWPF Energy Editor
The European renewables industry press, which is usually unequivocally upbeat in its assessments, is currently reporting a broad spectrum of substantial problems in the sector, ranging from bankruptcies and technical problems to tepid policy support and increasing public resistance. In a fundamentally viable energy generation sector such stories could be regarded as minor perturbations, but in one that has been for decades all but completely insulated from risk by subsidy and other non-market support, it suggests deep-seated structuro-physical weakness.
The German wind turbine manufacturer Senvion S.A., formerly trading under the name of RePower, is currently in financial difficulties. This Hamburg-based firm, which has installed over 1,000 wind turbines in the UK alone, applied to commence self-administered insolvency proceedings in mid-April this year, and is at present sustained by a EUR 100m loan agreement with its lenders and main bond holders. Senvion has delayed both its AGM, which was due to take place on the 23 May, and also the publication of its recent financial results. At the time of writing the company had not yet announced a new timetable."
wattsupwiththat.com/2019/05/12/is-the-long-renewables-honeymoon-over/
In consequence expect bankruptcies and subsidy farms being abandoned.
"Is the Long Renewables Honeymoon Over?
Dr John Constable: GWPF Energy Editor
The European renewables industry press, which is usually unequivocally upbeat in its assessments, is currently reporting a broad spectrum of substantial problems in the sector, ranging from bankruptcies and technical problems to tepid policy support and increasing public resistance. In a fundamentally viable energy generation sector such stories could be regarded as minor perturbations, but in one that has been for decades all but completely insulated from risk by subsidy and other non-market support, it suggests deep-seated structuro-physical weakness.
The German wind turbine manufacturer Senvion S.A., formerly trading under the name of RePower, is currently in financial difficulties. This Hamburg-based firm, which has installed over 1,000 wind turbines in the UK alone, applied to commence self-administered insolvency proceedings in mid-April this year, and is at present sustained by a EUR 100m loan agreement with its lenders and main bond holders. Senvion has delayed both its AGM, which was due to take place on the 23 May, and also the publication of its recent financial results. At the time of writing the company had not yet announced a new timetable."
wattsupwiththat.com/2019/05/12/is-the-long-renewables-honeymoon-over/