The FDP Free Democrat party in the state of Hesse (central Germany) writes in a press release how local utilities and communities are suing wind park development company JUWI, accusing it of “making unrealistic promises” regarding wind energy projects, and calls them “highly speculative business with enormous risks for public budgets“.
Over the years German local utilities and communities have invested tens of millions of euros in local wind parks with the hopes of seeing a ruddy return on investment and making a noble contribution to climate protection at the same time. That dream, it is turning out, has shattered.
The FDP press release in English:
Millions in losses with wind power projects
WIESBADEN – Once again wind projects are producing negative headlines. In the spotlight is “wind energy pioneer” JUWI, which is one of the largest project developers in Hesse. With the Pfalz City Utility and the City Utility of Mainz, two large community electric utilities are suing currently JUWI because the wind prognoses made never came materialized, and thus the returns fell way below the planned budget. Instead of posting profits after more than ten years in operation, community company “Pfalzwind GmbH“ has seen double-digit millions in losses. Pfalzwind operates more than 60 turbines.
‘We see the same result in Hesse as well. Everywhere communities, utilities and energy co-ops were lured by large profits, but in the end most wound up with losses that the citizens will have to cope with. Not only are they stuck with damage to the environment and the landscape, but now they also have a financial disaster to cope with,’ says René Rock, energy policy speaker of the FDP faction in the Hesse state parliament.
‘The lawsuits by the community utilities once again show that promises made by the wind industry are unrealistic. And due to the falling feed-in rates, the economic prospects are worsening in addition. Also large utilities in Hesse, such as Mainova AG in Frankfurt, are losing money with their stakes in wind parks.
Currently alone in Hesse some 470 wind turbines are in the permitting process. Instead of blindly trusting the promises made by project developers, planned wind power projects involving investment by communities should be halted based on economic sense. In truth wind parks are highly speculative businesses with enormous risks for public budgets.'”
And never mind the industrial blight and environmental destruction they are causing to Germany’s once idyllic landscape, and the threat to human health and wildlife.