Background

In 2012 significant prospects of benefits and growth were expected in the Eastern and South-Eastern Europe’s wind energy markets in the years ahead. Only between 2005 and 2011 the installed wind capacity of the new EU member States grew ninefold to reach 4,200 MW by the end of 2011. In this connection mid-2012 the European Wind Energy Association (EWEA) was therefore tendering a comprehensive survey of wind energy markets envisaged to show relative opportunities and challenges in the Region. PwC Austria partnering with PwC CEE experts won the tender with a proposal that combined qualified expert research delivered in each of the 15 target countries with expert interviews to provide insights into financing mechanisms fuelling or hindering expected growth.

Purpose

To provide a mix of professional services culminating in an integrated wind energy market overview for 15 countries within Eastern and South Eastern Europe with a focus on financing options for development of wind energy.

Main Activities

Honorata was in charge of setting up an expert team and its coordination in drafting the winning proposal. The identified team of experts in wind markets from PwC CEE delivered a cross-country survey within a tight schedule. PwC Austria gave the lead of this activity to its network partner PwC Romania. A consortium of PwC firms screened previously available research data, and drafted new research strategy of the financing part. To provide cutting edge insight into financing opportunities, data mining was supported by expert interviews.

Achieved Impact

• In-depth analysis of Eastern and South-Eastern European markets: first wave, second wave and future markets covering (Bulgaria, Romania, Hungary, Poland, Turkey), including
 power market overview, wind energy sector, supply chain, legal frameworks, opportunities and challenges.
• Analysis of the wind power sector's growth in the Region together with forecasts up to the year 2020.
• Wind energy financing options, including requirements of private banks related to project financing in the emerging markets, profiles of International Financial Institutions active in the region and EU funding.
• Investors, stakeholders and regulators were given a review and geographical mapping of financing options available from banks and International Financial Institutions together with a set of policy recommendations
• The report was delivered to EWEA, translated into Polish and Turkish languages and finally presented at the EWEA annual conference in Vienna in February 2013.