Although blades on the 150-meter wind turbines at the new German offshore Riffgat power plant nine miles off the North Sea island of Bokum are finally turning, there is one big problem. They are doing so only because they are being powered by onshore fossil-fueled generators to prevent the rotors from corroding in salty air. And why might that be? Well although they otherwise function perfectly, the underfinanced grid operator hasn’t yet connected a power line because of problems attracting investor financing. Prospective investors attribute their reluctance to a lack of market confidence.
While half a dozen wind farms are still being built in the North Sea, there are no follow-up contracts. As Ronney Meyer, managing director of Windenergie Agentur (EWE) based in the northern port city of Bremerhaven said, “The market has collapsed.” EWE developer Riffgat reportedly doesn’t plan to invest in any more offshore turbines.
There is little mystery regarding a clear lack of clamor for wind in the energy marketplace. Namely, taxpayers and ratepayers are recognizing that the subsidy-dependent and performance-costly industry makes no economic sense.