Red tape crisis puts European renewable push at risk – Aquila Capital

div classBodysc17zpet90 cdBBJodivpBy Christoph Steitzp

pFRANKFURT Reuters – Aquila Capital, one of Europe‘s top private renewables investors, has warned that a painfully slow permit system for wind and solar projects is choking off investment and threatens the continent’s push to reduce dependence on Russian gas.pdivdivdiv classBodysc17zpet90 cdBBJodiv

p“We can and want to invest more. This is not a question of capital or the will to do so. It is simply a question of the fact that we are stuck,” said Roman Rosslenbroich, Aquila Capitals cofounder and CEO.p

p“We are talking about billions that our industry cannot invest because of this.”p

pAquila Capital manages nearly 14 billion euros 15 billion in assets and has realised 13 gigawatts GW of installed renewable capacity, with a further 9 GW in development and under construction in Europe.p

p“We have ambitious expansion targets, but we are simply not making any progress. Permits don‘t come at all, or only much too late,” Rosslenbroich said. “It’s a disaster because as an investor and project developer you can hardly plan anymore.”p

pRenewables are big part of Europes efforts to achieve energy autonomy and expansion efforts have been increased to cut reliance on Russian gas supplies in the wake of Moscows invasion of Ukraine.p

pGetting the permits fast enough has been a problem across Europe, most notably in its biggest economy Germany, which aims for a 80 share of renewables in its power mix by 2030.p

pThis will require annual onshore wind installations of 910 GW a year by 2028, a target industry association BDEW said cannot be reached based on current legislation.p

pRosslenbroich said one way to accelerate lengthy processes was to set up a centralised authority in charge of dealing swiftly with applications and making decisions fast to make sure project timelines are shortened.p

p“It simply takes too long.”p

p1 0.9257 eurosp

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pp Reporting by Christoph Steitz. Editing by Jane Merrimanp

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