Following the recent announcement by the German government of the forthcoming closure of all nuclear plants by 2022 (see Merkel's nuclear exit), a new step has been taken today with a series of announcements to support renewable energy, including a specific financing programme to develop the offshore wind industry on a large scale (see here, in German only for now) via public development bank KfW.
This programme does two very smart things:
This is part of my Wind power series. The usual disclosure is more important than ever in this case: I advise wind developers on their financing needs, in particular for offshore wind projects, so this particular item will have a large impact on my work (though I'd note that, by making deals easier, it could arguably be said that it makes my job of putting financings in place somewhat less valuable...)