EY: Poland advanced to 15th place in the ranking of attractiveness of countries for RES investors

by   CIJ News iDesk III
2023-11-30   14:57
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Poland has advanced by two places and ranked 15th in the EY RECAI ranking on the attractiveness of countries for investors in renewable energy sources (RES), mainly thanks to offshore wind farms, EY said. On the market, PPA Polska retained 10th place.

In the 62nd edition of the EY RECAI ranking, which compares the attractiveness of the world’s 40 renewable energy markets, the United States is consistently the leader. In second place for the second year in a row is Germany, followed by China, France and Australia. One of the biggest declines concerns the UK, which fell out of the top five and landed in seventh place.

For two years, a standardized version of the index, taking into account the GDP of individual countries, has also been prepared. In this case, Poland is in 14th place (compared to the 17th year earlier), according to the material.

The reason for the next Poland promotion in the ranking are offshore wind farms are . The construction of the first Baltic Power offshore wind farm with a capacity of 1.2 GW has begun, and further offshore wind farms from the so-called 1 offshore phase in Poland with a total capacity of 4.7 GW is in an advanced phase of development. In addition, a installation terminal of offshore wind farms will be built in Świnoście, capable of operating and installing wind turbines with a capacity of 15 MW or more. In addition, the Ministry of Infrastructure has completed the process of granting location permits for another 10 offshore wind farms under the so-called 2 offshore phases with additional manufacturing potential of an estimated level of 9.5 GW. At the same time, the level of offshore power in the auction system of offshore wind energy support and the number of planned auctions were also increased - from 5 GW to 12 GW respectively and from 2 auctions to 4.

By introducing new regulations, which are one of the milestones required by the European Union to receive funds from the KPO, Poland has increased the share of renewable energy sources in its energy mix. And already at the end of June this year, the capacity of renewable energy sources in Poland was 25 GW, which is 5 GW more than a year ago," said EY partner, leader of the energy department in Poland and CESA region.

The EY RECAI ranking also assesses the attractiveness of the PPA (Power Purchase Agreement), i.e. contracts for the long-term purchase/sale of renewable electricity. Poland has a stable 10th place.

EY has been assessing the investment attractiveness of countries in terms of investment in renewable energy sources since 2003. The RECAI index covers the world’s 40 largest markets. In 2022, the so-called "normalized" RECAI index was also added, which takes into account the GDP of individual countries.

Source: EY and ISBnews