EU renewable energy firms caught in perfect storm


Reuters/EurActiv.com – Three of Europe‘s top renewable energy companies became the latest victims of a global collapse in prices, massive oversupply and governments slashing subsidies as austerity budgets are being adopted across the continent to contain the eurozone debt crisis.

SolarWorld, Q-Cells and Nordex are among the latest renewable energy companies to be hit by a mix of high inventories, slower demand and banks tightening their purses regarding wind parks.

Solar companies in particular suffered as they ramped up production last year to meet a surge in demand from Germany and Italy where customers rushed to buy solar panels before governments cut vital subsidies. more> http://is.gd/tSRAyJ

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