{"id":335482,"date":"2024-07-04T08:04:42","date_gmt":"2024-07-04T06:04:42","guid":{"rendered":"https:\/\/climatescience.press\/?p=335482"},"modified":"2024-07-04T08:04:45","modified_gmt":"2024-07-04T06:04:45","slug":"europes-green-energy-plans-stall-as-leading-companies-reduce-expansion-plans","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=335482","title":{"rendered":"Europe\u2019s Green Energy Plans Stall As Leading Companies Reduce Expansion Plans"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From NoTricksZone<\/a><\/p>\n\n\n\n

By\u00a0P Gosselin<\/a><\/em><\/p>\n\n\n\n

Green energies in turmoil\u2026projects being postponed, scaled back\u2026<\/strong><\/p>\n\n\n\n

Europe\u2019s largest green energy producer drastically reduces expansion plans for wind and solar energy<\/strong><\/p>\n\n\n\n

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Europe\u2019s green energy projects are in the doldrums. Photo: P. Gosselin<\/em><\/figcaption><\/figure>\n\n\n\n

Europe\u2019s leading green energy producer, Statkraft, is drastically scaling back its plans for new wind and solar power plants \u2013 due to falling electricity prices and rising costs, so reports Germany\u2019s online Blackout News<\/a>, a leading site for independent German energy news.<\/p>\n\n\n\n

According to company CEO, Birgitte Vartdal, market conditions have become more difficult as the company\u2019s ambitious targets for wind energy and solar power are now being called into question.<\/p>\n\n\n\n

The new Statkraft target is two to two and a half GW instead of an originally planned 4 gigawatts annually.<\/p>\n\n\n\n

\u201cIn the offshore wind energy sector, the Group is now planning a total output of six to eight GW. The original target was ten GW,\u201d Blackout News adds<\/a>.<\/p>\n\n\n\n

The scaleback follows other Europeans countries\u2019 plans to reduce expansion, including Danish energy company Orsted, which \u201chas lowered its targets by more than ten GW\u201d and has also \u201ccanceled two offshore wind projects in the USA and reported impairments amounting to 28.4 billion Danish kroner (approx. 3.8 billion euros).\u201d<\/p>\n\n\n\n

Portugal\u2019s largest energy supplier, Energias de Portugal (EDP), has also reduced its investment plans \u2013 due to the \u201cdeterioration in market conditions.\u201d Moreover, French energy supplier Engie earlier had postponed developing hydrogen projects.<\/p>\n\n\n\n

Leading officials blame projects having become \u201cmuch more challenging\u201d and offering \u201cno relative returns.\u201d<\/p>\n\n\n\n

As a result, solar and wind equipment manufacturers have seen their values plummeting and ESG equity funds have \u201crecently suffered outflows of 38 billion dollars,\u201d reports Blackout News<\/a>.<\/p>\n\n\n\n

Blackout News<\/a> is operated by an independent and non-partisan small group of engineers with experience in energy management<\/em>.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Green energies in turmoil\u2026projects being postponed, scaled back\u2026<\/p>\n

Europe\u2019s largest green energy producer drastically reduces expansion plans for wind and solar energy<\/p>\n","protected":false},"author":121246920,"featured_media":335487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691818583,691818118,691829537,691824290],"class_list":["post-335482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-europe","tag-green-energy","tag-green-energy-producer-statkraft","tag-wind-and-solar-energy","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/07\/0Fichier-17-06-07-07-49-03.jpeg?fit=1920%2C1277&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1ph0","jetpack-related-posts":[{"id":403578,"url":"https:\/\/climatescience.press\/?p=403578","url_meta":{"origin":335482,"position":0},"title":"Europe\u2019s Impossible Choice: AI Development or Net Zero?","author":"uwe.roland.gross","date":"09\/20\/2025","format":false,"excerpt":"This year, European nations announced plans to pursue artificial intelligence. National leaders announced AI spending goals totaling hundreds of billions of euros in efforts to catch up to the United States. 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