Who should pay for wind power risk?
Wind power is being relied on by governments around the world to deliver on their promises of low-carbon power. But who is left holding the financial risks inherent to this resource? And what are the prospects for a mature wind derivatives market developing to allow the transfer of risk?
Wind power is one of the fastest growing energy sources, with annual growth averaging 26% since 2005, and capacity growing over 1,000% in the last decade to 195 gigawatts (GW) in 2010 from 18GW in 2000, according to the International Energy Agency (IEA). But while renewable energy is crucial to helping countries hit their carbon emissions reduction targets, the increased used of wind is
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