Germany reportedly plans to supply state guarantees to the wind power industry.
Reuters reported on the seventeenth (local time) that the German government and KfW plan to supply about 16 billion euros (about 23.67 trillion won) to the wind power industry by 2030 to answer the expansion of Chinese firms’ market share in Europe. did it
Through this, Germany plans to expand the scope of state guarantees and financial support for its firms.
As well as, all firms with access to power generation facilities are required to comply with ‘Energy Cyber Security Regulations’ and even prepared for security issues with Chinese products.
As well as, the corporate plans to announce a roadmap to scale back dependence on China for key components reminiscent of everlasting magnets by early next yr.
“We must proceed to enhance conditions in order that the wind power industry can remain competitive and create future value inside Germany and Europe,” said German Economy Minister Robert Habeck.
China’s wind turbine orders in Europe were just one.2 gigawatts (GW), or 1%, but unfair issues arose because it competed at 50% lower prices. Also, this yr, a Chinese turbine with a capability of 296 megawatts (MW) was utilized in a wind power project in Germany. In this example, the German government felt a way of crisis.
It seems that a more cautious response was taken because there was a previous precedent of Chinese solar energy sweeping the European market.
China’s annual wind power capability is 82GW, which is roughly 4 times that of Europe.
The EU installed 17GW of wind power plants last yr, but some say that using Chinese turbines is inevitable to attain the goal of adding 30 gigawatts (GW) of wind power generation capability yearly by 2030.
Nonetheless, the EU took steps last yr to guard local industries and reduce dependence on China with the Net Zero Industrial Act and foreign subsidy regulations.
The German government also plans to guard its firms by guaranteeing fair competition through EU regulations and trade protection measures reminiscent of anti-dumping tariffs.
Reporter Jaeseung Lee energy@aitimes.com
