Collapse of Germany’s offshore wind subsidies a cautionary tale for Canada
It’s an ill wind that blows nobody good. And in Germany, it might be better if the wind didn’t blow at all after the European Union member moved to start dismantling its flagship Alpha Ventus project after just 15 years. Despite its role as a pioneering wind farm, Alpha Ventus is being shut down — not because of technological failure, but because it is no longer financially viable without massive government subsidies. For Canada, which hopes to use offshore wind to support industries like green hydrogen production, the German experience raises critical questions about the long-term economics of offshore wind power. Without sustained financial support, will Canada’s ambitious offshore wind plans suffer the same fate? Germany has long been a global leader and pioneer in renewable energy. Alpha Ventus was built in 2009 as its first offshore wind farm, benefiting from generous state subsidies. more, >>CLICK TO READ<< 07:44
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