By James Kanter/ Published: February 28, 2008
International Herald Tribune -
France
PARIS:
Long considered marginal and even quixotic, energy from sources like
the wind, sun and plants is turning into one of the world's most highly
valued industries. And while power generated by "green" sources remains
tiny compared with fossil fuels, the sector has begun to attract the
attention of big-league investors seeking to profit from a new wave of
growth in alternative energy.
But even as the amount of cash swells, environmental officials warn
that financing is flowing to projects that may be doomed to failure.
Once-trendy biofuels like ethanol produced from corn are now being
derided by the authorities, who say the fuels have little value in the
fight against global warming. Vital components for windmills and solar
cells have run short over the past year, requiring expensive projects
to a halt. Meanwhile, subsidies for renewable energy remain at the whim
of politicians, creating a boom and bust cycle for wind farms and solar
projects, particularly in the United States.
Such a risky environment means some bankers are placing bets on
projects that are unlikely to develop into serious, profitable
alternates to fossil fuels, and could ultimately slow investment flows...
Full article: http://www.iht.com/articles/2008/02/28/business/green.php
