En Europe, l’énergie verte est victime de la crise de la dette

Infographie : F. Descheemaekere

In Europe, Green Energy Takes a Hit From Debt Crisis

[The New York Times]

Green energy investment in Europe during the third quarter fell 29 percent, to $18.2 billion, compared with the period last year. Europe’s renewable energy sector is searching for answers amid the sovereign debt crisis. As government subsidies have been cut, utilities and independent energy producers have mothballed projects and refocused on countries that still offer guaranteed — though reduced — returns for clean energy investment.

When Enel Green Power, the clean energy unit of the Italian utility Enel, raised €2.6 billion in an initial public offering in 2010, its focus was squarely on Europe. The company envisaged building more than two-thirds of its new wind, solar and other renewable energy projects in Europe after the $3.4 billion I.P.O. to capitalize on lucrative subsidies from local governments that guaranteed high returns for investors. Yet as the Continent’s debt crisis has continued to bite, many cash-strapped countries in Europe have pared back financial support for green energy investments. In response, the Enel Green Power chief executive, Francesco Storace, has switched gears. Now, the Italian company, which is the second-largest producer of green energy in Europe, after Iberdrola of Spain, has shifted focus in search of new markets, particularly in the developing world.
Unlike many of their European counterparts, countries like Brazil and South Africa have maintained support for renewables, buoyed by strong domestic growth and government mandates to invest in cleaner alternatives to fossil fuels.

Lire : nytimes.com