We are proud to present the second edition of the wind power country overview. In this edition, we have included 9 more countries, bringing the total number of countries covered to 29. These are all key wind power producing countries.
In addition, we have included a few countries that have potential to become large future producers of wind power, such as through investment in offshore wind infrastructure.
Whether onshore or offshore, wind power production is a fast-growing business. It’s expected that production of wind power will continue to grow in the future, increasing its share of the global energy mix, as countries all over the world seek to reduce emissions from fossil energy production. This report presents a brief country overview of taxation of both onshore and offshore wind power production.
Over the past year, Belgian offshore wind energy production has achieved a remarkable growth of 45%.
This growth mainly results from the commissioning of two large offshore windfarms in 2020: “Northwester 2” and “Seamade”.
At the same time, the commissioning of these windfarms marks the completion of the dedicated zone for offshore wind, with a total installed power of 2.262 MW.
The Belgian federal government is currently exploring the demarcation of a second dedicated zone for offshore wind, which hopefully will result in the development of new windfarms in a couple of years from now.
Even more remarkable is the fact that Belgium, a relatively small country with a very limited shoreline, is now the world’s fourth largest offshore wind producer (behind the UK, Germany and China).
The tax landscape surely remains a key factor in delivering competitive offshore wind projects. Due to the existence of tax incentives, such as the increased investment deduction, a corporate income tax rate of 25% and the exemption from land tax for offshore wind, Belgium has provided an attractive tax landscape.
As the Belgian federal government continues to expand its ambitions for the renewable energy sector, and global investment moves away from fossil fuels, there will surely be many opportunities ahead for investors in wind energy production.
Read our ‘The Power of Nature’ report to learn more or contact us directly for further information.