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Swedish Wind Energy Association warned that electricity prices and subsidies at current levels in the Nordic country may slow growth in wind power unless decision-makers boost targets, Bloomberg reports.
“Prices are low right now both for power and for electricity certificates, which creates challenges for some projects, though different companies are affected to highly varying degrees,” Annika Helker Lundström, the association’s managing director, told the newswire.
Sweden needs to raise its political objectives for installing new wind power “if we are to avoid a steep slowdown in the construction of turbine capacity,” she said. “Currently, low power prices and electricity- certificate subsidies offer no room for raising targets.”
Arise Windpower, a Swedish wind developer, plans to invest 1.3 billion kronor ($196 million) in a Swedish project it agreed to buy from Ownpower Projects AB – provided electricity and certificate prices recover.
The Halmstad-based company plans to build 28 of the 40 turbines on the 84- megawatt project “once electricity and certificate prices have recovered somewhat from today’s levels,” according to a statement.
Skanska Infrastructure Development and Jämtkraft are investing in a wind power plant with a total cost of about 1.2 billion kronor.