European Natural Gas Plant Construction Hits 10-Year Low
New natural gas plant construction in Europe is at a 10-year low, with only four gigawatts (GW) of new capacity under construction, Fierce Energy reports.
“Since 2008, Europe has experienced strong subsidized growth in renewable energy, sustained periods of weak demand, and low wholesale power prices, all of which have deterred thermal plant investment, particularly gas plant construction,” said Henry Edwardes-Evans, associate editorial director of Power in Europe.
Like this story? Subscribe to The Energy Mix and never miss an edition of our free e-digest.
“Some 35 GW of fully approved CCGT [combined cycle gas turbine] capacity remain firmly shelved, with little or no discernible forward momentum,” Vergetis writes. “Dozens of similar projects have been cancelled or suspended recently, while a handful of operational plants are up for sale.”