The amount of future new wind capacity in Europe financed last year rose to a record high, industry group WindEurope said on Thursday, as falling costs and increased competition made it possible for investors to fund more for less cash. In total, 16.7 gigawatts (GW) of projects reached a final investment decision – 12.5 GW onshore and 4.2 GW offshore – 45 percent more than in 2017, WindEurope said in its annual report. The cost of generating electricity from wind power fell to 1.59 million euros per megawatt (MW) in 2018 from 1.93 million euros/MW in 2017, WindEurope said. However, the report distinguishes between finance for future projects over the next few years and farms actually installed, saying the amount of capacity newly installed last year fell. “Last year was the worst year for new wind energy installations since 2011 … 12 EU countries didn’t install a single wind turbine last year,” said WindEurope’s chief executive Giles Dickson. In total, 189.2 GW of wind power capacity is now installed in Europe, 6 percent higher than in 2017. That accounts for 18.4 percent of the EU’s total installed power generation capacity. Reuters

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