RenewableUK has reported Europe hit a record high last year with over 16GW of new renewables capacity contracted via PPAs – a 40% increase on the year before. The resurgence has come despite several challenges in the sector, and in onshore wind in particular. According to the 3Degrees Market Insights Report the surge in commodity prices and inflation following Russia’s invasion of Ukraine, coupled with permitting and grid hold-ups, has directly impacted the supply of wind deal offers across the continent.
“A key dynamic at present in Europe, and globally, is that wind projects are in short supply. Most developers are building solar sites because they cost less to construct. That has been helped by the reduction in solar panel prices,” said senior director at 3Degrees Tyler Espinoza.
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