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Wind Power Finance and Investment

Brasil: vento, energia e investimentoSao Paulo

23 November 2007

Steve SawyerSecretary General

Global Wind Energy Council

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$28.3bn

$54.2bn

$75.4bn

$94.5bn

2004 2005 2006 2007

Global New Investment in Clean Energy 2004 – 2007(Preliminary 2007 figures; new money only)

92% Growt

h

Grossed-up estimate based on disclosed deals. New investment only. * 2007 estimate based on YTD Sept.

Source: New Energy Finance

39% Growt

h

25% Growt

h

*

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Source: New Energy Finance

Global Asset Financing by Sector 2004 – 2007

Grossed-up estimate based on disclosed deals. Numbers in brackets refer to total deals. Includes new build & refinancings, excludes project acquisitions. *2007 = annualised YTD

$46,000m*(504)

$38,601m (423)

$26,009m (438)

$11,763m (249)

2004 2005 2006 2007Wind Biomass & Waste Biofuels Geothermal & Mini-Hydro Marine & Solar

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Wilder Hill New Energy Finance Global Innovation Index (NEX), Jan 2003 to October 2007

0

50

100

150

200

250

300

350

400

450NEX AMEX Oil NASDAQ S&P 500

The NEX consists of the world’s largest, most liquid and most representative clean energy stocks. 30 December 2002 = 100

Source: New Energy Finance, American Stock Exchange

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Supporting Wind GrowthFeed-in Tariffs, Quotas and Tax Incentives

Stimulate Leading Markets

11,612

6,270

2,607 2,123 1,967 1,468

11,614

20,622

3,135

1,716

0

2,500

5,000

7,500

10,000

12,500

15,000

17,500

20,000

Germany Spain USA India Denmark China Italy UnitedKingdom

Portugal Canada

To

tal

MW

In

sta

lled

Th

rou

gh

20

06

Notes: “Other” refers to countries that have no incentive for wind power production, or only tax exemptions and direct investment subsidiesSource: Emerging Energy Research

Feed-in tariff mechanisms have created the largest markets; however, the quota model with tax incentives has stimulated significant market growth

Feed in tariff

Quota

Quota + tax incentive

Other

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Supporting Wind GrowthPolicy Introduction Results

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

5,500

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10

Germany

Spain

USA

India

China

Denmark

Italy

UK

Portugal

An

nu

al M

W I

nst

all

ed

Notes: Policy triggers include Germany EEG 2000, Spain Real Decreto 2818, USA PTC renewal 2004, India Electricity Act 2003, China RE Law Jan. 2006, Denamark Electricity Supply Act 1996, Italy Bersani Decree 1999/GC law 2003, UK RO 2002, Portugal Decree Law 339. 2007 MW installed based on EER forecasts.Source: Emerging Energy Research, governments.

China’s Renewable Energy law debut ranks third worldwide in terms of annual MW added results.

Mid-size European markets, <300 MW after policy launch

USA: >4 GW after continuous PTC renewal

China: >2 GW, 2 years after policy debut

Years After Policy Introduction

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Carbon Finance

Total number of CDM projects

Total number of CERs generated

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For more information:Steve Sawyer

+32 2 400 1030steve.sawyer@gwec.net

www.gwec.net