European utilities need a diverse renewables strategy
25.11.08 - 23:40 ... source : Ernst & Young
... Dusseldorf, 26 November 2008 — Power and utility companies should be focusing on smaller projects and decentralized technology if they are to hit the EU's target of generating 20% of its energy from renewables by 2020. This is one of the key findings of an Ernst & Young report – A new era for renewables in Europe – released yesterday at the Energy 2008 conference in Brussels. Helmut Edelmann a director in Ernst & Young's Power & Utilities Center says: "We believe that the future of large-scale offshore wind and tidal projects is now in doubt, given the inherent risks and the current financial crisis. Lack of liquidity means companies will find it nearly impossible to raise the €500bn which we believe would be required to make such projects successful." Based on research and a series of roundtables with 30 senior executives from the energy industry, the report reveals that there is little variety in power and ...» Next (HTML)
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