14 Jan '12, 6pm

Show Wind the Money: Financing Renewable Energy in a Sluggish World Economy

Show Wind the Money: Financing Renewable Energy in a Sluggish World Economy

Amidst the financial crisis, many banks are lending less. What does that mean for renewables? As those in the renewable energy sector in the United States anxiously await the fate of the Production Tax Credit (PTC), an important financing tool set to expire this year unless Congress takes action, their counterparts in France are having their own moment of concern. According to French energy giant Areva, banks are lending less because of the financial crisis. And that's affecting critical financing needed to get renewables off the ground -- and in the case of wind energy, offshore. "Where we used to have 15 banks around the table," Areva must now invite upwards of 30 banks "to convince everyone to bring a share to the financing," said Philippe Kavafyan, vice president of Areva Wind France. "The banks right now are of course living through a financing crisis."[1] NUCLEAR VS....

Full article: http://www.justmeans.com/Show-Wind-Money-Financing-Renewa...

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