"Economies in transition are beginning to recognize the importance of
energy independence and are thus looking to bring renewables into the
energy mix," said Marianne Osterkorn, International Director for Renewable
Energy Partnership (REEEP). "As the legislative and regulatory frameworks
are put into place financial risk is lowered. Recent changes in renewable
energy policy is beginning attract finance into the region."
"If you look at Poland, there are currently 6,000 MW of wind in planning,
while only 63 MW has been built. It's time to attract private finance into
markets such as Poland as estimates show that E 6 billion euros [USD$7.1
billion] will be required to finance the construction of those wind
farms."
Germany is poised to undergo significant changes in terms of financing and
funding renewable projects. To maintain its leading position in the world
market, German renewable companies realize already a significant amount of
their turnover is in emerging export markets.
Coming in the wake of a major Government energy strategy summit, planned
by the office of the newly elected German Chancellor Angela Merkel,
leading international investment banks and finance experts will gather in
Berlin for the first large-scale renewable energy finance forum focusing
on Central and Eastern Europe. The Renewable Energy Finance Forum (REFF)
in the Berlin Hilton Hotel on the 13th and14th of March, takes place at a
crucial time for the future of central European energy security.
"According to the International Energy Agency the breathtaking figure of
$16 trillion will be invested in the energy sector until 2030. Due to
skyrocketing oil prices, the need to reducing the dependence on foreign
fossil fuel imports and national security considerations, investments will
have to go more and more into smart renewable energy technologies," said
Christian Unger, Head of Energy at Bank of Austria.