Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Freedom Bunker
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Europe’s Top Wind And Solar Builder Walks Back Growth Plans

% of readers think this story is Fact. Add your two cents.


Europe’s Top Wind And Solar Builder Walks Back Growth Plans

By Irina Slav of OilPrice.com

The biggest wind and solar construction company in Europe, Statkraft, has revised its plans for the future, now expecting to build fewer new wind and solar installations than before.

The reasons for the revision are higher costs and lower electricity prices that are compromising the profitability of these projects.

“The transition from fossil to renewable energy is happening at an increasing pace in Europe and the rest of the world. However, the market conditions for the entire renewable energy industry have become more challenging,” the chief executive of the Norwegian company said, as quoted by the Financial Times.

European states have been on a building spree in wind and solar but this has had one impact on electricity prices that many apparently did not foresee. It has brought prices lower during the hours where there is abundant wind and/or solar generation, even plunging them below zero.

Over the past year, European wholesale electricity markets have seen increasingly frequent negative prices, which has become a problem for generators that cannot adjust their output to match demand.

In addition to the negative electricity price trend, production costs for wind and solar are still high as interest rates remain high, making borrowing costlier for industries that rely heavily on borrowed capital to build their installations. Coupled with the lower profit margins eaten away by negative electricity prices, this has made for quite a challenging environment in wind and solar.

As a result, Statkraft now plans to build between 2 and 2.5 GW of onshore wind, solar, and battery storage per year from 2026, down from an annual target range of between 2.5 and 3 GW previously. Offshore wind targets were also revised, from 10 GW in total by 2040 to between 6 and 8 GW.

Virtually all major players in the wind and solar space have tweaked their growth targets in recent months as a reaction to the market trends in their industry.

Tyler Durden Fri, 06/28/2024 – 03:30

Read More…


Source: https://freedombunker.com/2024/06/28/europes-top-wind-and-solar-builder-walks-back-growth-plans/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.


LION'S MANE PRODUCT


Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules


Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.



Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.


Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.