Spain’s Iberdrola Renovables reported a strong first half thanks to major growth from the company’s US wind energy business as well as increased production from its Spanish renewable energy schemes.
Meanwhile, Iberdrola also reported that it was experiencing high visibility for key aspects of the business, with its project pipeline now 4,800MW larger than a year earlier. As a result the firm expects to install 1,750MW of additional capacity this year, bringing its total installed capacity to 12,500MW.
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Strong H1 2010 for Iberdrola |
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AIM Comment
UK Budget - little cheer for cleantech investors (AIM Comment by Andrew Hore)
There was little in the UK’s emergency Budget last month to encourage Alternative Investment Market-quoted cleantech companies. Although the capital gains tax (CGT) change was not as harsh as first feared, there were no additional investment incentives for the sector or for small companies in general. The new coalition Government’s Chancellor confirmed that the Green Investment Bank will go ahead, but it seems likely that this will involve the axing of several funds and government-sponsored bodies, including the Carbon Trust.
Editor´s Message
The first half of 2010 has proved a poor one for the cleantech sector. General stockmarket indices like the Dow Jones Industrial Average and the FTSE100 have fallen to their lowest levels since last autumn - but cleantech shares have suffered even more as investors flee to what they perceive as safer sectors and commodities such as gold.
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Cleantech Utility Comment
National Grid - central to UK renewables generation (by Nigel Hawkins)
Whilst many UK politicians wax lyrical about the benefits of renewables generation – and how the Government offers very attractive subsidies to potential investors – relatively little regard is accorded to the activities of National Grid, whose key role is to provide and maintain the UK’s core electricity infrastructure. Quite simply, without National Grid providing the necessary transmission infrastructure, much of the UK’s renewables generation would be stillborn.
