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					     Wind Power
Finance and Investment

            Steve Sawyer
         Secretary General
     Global Wind Energy Council



 Brasil: vento, energia e investimento
               Sao Paulo
          23 November 2007


                                         1
                                 Global New Investment in Clean Energy 2004 – 2007
                                 (Preliminary 2007 figures; new money only)

                                                                                                    25%    $94.5bn         *
                                                                                                   Growt
                                                                                                     h

                                                                                  $75.4bn
                                                                        39%
                                                                       Growt
                                                                         h
                                                     $54.2bn
                                           92%
                                          Growt
                                            h
                       $28.3bn




                           2004                          2005                         2006                    2007
Grossed-up estimate based on disclosed deals. New investment only. * 2007 estimate based on YTD Sept.

                                                                                                           Source: New Energy Finance


                                                                                                                                        2
                                        Global Asset Financing by Sector 2004 – 2007


                                                                                                                                   $46,000m*
                                                                                                                                     (504)
                                                                                               $38,601m
                                                                                                 (423)


                                                          $26,009m
                                                            (438)



                     $11,763m
                       (249)




                     2004             2005                                                2006                                      2007
                  Wind Biomass & Waste Biofuels                                   Geothermal & Mini-Hydro                       Marine & Solar
Grossed-up estimate based on disclosed deals. Numbers in brackets refer to total deals. Includes new build & refinancings, excludes project acquisitions. *2007 = annualised YTD


                                                                                                                                          Source: New Energy Finance

                                                                                                                                                                                   3
                              Wilder Hill New Energy Finance Global Innovation
                              Index (NEX), Jan 2003 to October 2007

    450
                                  NEX           AMEX Oil           NASDAQ             S&P 500
    400

    350

    300

    250

    200

    150

    100

      50

        0



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


                                                                                                                           4
                                                                                                Supporting Wind Growth
                                                                                         Feed-in Tariffs, Quotas and Tax Incentives
                                                                                               Stimulate Leading Markets
                                                       20,622
                                                                                                                                                                                Feed in tariff
Total MW Installed Through 2006




                                     20,000
                                                                                                                                                                                Quota
                                     17,500
                                                                                                                                                                                Quota + tax incentive
                                     15,000
                                                                                                                                                                                Other
                                     12,500                           11,614          11,612

                                     10,000

                                      7,500                                                             6,270

                                      5,000
                                                                                                                         3,135            2,607
                                                                                                                                                           2,123           1,967
                                      2,500                                                                                                                                             1,716     1,468

                                            0
                                                  Germany             Spain             USA             India         Denmark            China             Italy         United      Portugal    Canada
                                                                                                                                                                        Kingdom
                                  Notes: “Other” refers to countries that have no incentive for wind power production, or only tax exemptions and direct investment subsidies
                                  Source: Emerging Energy Research



                                     Feed-in tariff mechanisms have created the largest markets; however, the
                                     quota model with tax incentives has stimulated significant market growth
                                                                                                                                                                                                          5
                                                                                            Supporting Wind Growth
                                                                                          Policy Introduction Results

                       5,500                                                                                                                                                     Germany
                                   USA: >4 GW after                                                                                                                              Spain
                       5,000       continuous PTC
Annual MW Installed




                                                                                                                                                                                 USA
                                   renewal
                       4,500                                                                                                                                                     India
                                                                                                                                                                                 China
                       4,000
                                                                                                                                                                                 Denmark
                       3,500                                                                                                                                                     Italy
                                                                                                                                                                                 UK
                       3,000
                                                                                                                                                                                 Portugal
                       2,500
                                                                     China: >2 GW, 2
                       2,000                                         years after policy
                                                                     debut
                       1,500
                                                                                                                             Mid-size European markets,
                       1,000                                                                                                 <300 MW after policy launch
                         500

                            0
                                    Year 1          Year 2          Year 3          Year 4          Year 5           Year 6          Year 7          Year 8          Year 9         Year 10
                                                                                      Years After Policy Introduction
                      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.                                                                                                                          6
Carbon Finance

 Total number of CDM projects




Total number of CERs generated




                                 7
   For more information:
          Steve Sawyer
        +32 2 400 1030
steve.sawyer@gwec.net
         www.gwec.net



                           8

				
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