29 Mar '13, 4pm

German Solar Gains from Cyprus Crisis as Investors Seek Safety

Milk the Sun GmbH, a Berlin-based company that links buyers and sellers of solar projects, had the most inquiries in a year on March 26 as Germans sought to invest, said Chief Executive Officer Felix Krause. That day Cyprus prepared to impose capital controls and a tax on bank deposits of more than 100,000 euros ($128,000). The uncertainty in Cyprus led to concern across Europe that bank accounts may not be secure. Germany was forced to reiterate a 4 1/2-year-old pledge guaranteeing deposits last week as moves against account holders in Cyprus were debated. A flee to safety could bring funds to Germany's solar industry, the biggest by installed capacity, as investors seek material assets. "Germans with savings of more than 100,000 euros are increasingly concerned because of Cyprus," Krause said in an interview. "They'd rather put their money in a renewable plant with guara...

Full article: http://www.renewableenergyworld.com/rea/news/article/2013...

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