Renewable energy growth increasingly ‘independent’ from government incentive

Business deals in the renewable sector are growing despite a scale back of government incentives, according to new analysis. The claim comes as data provider mergermarket releases new figures which […]

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By Vicky Ellis

Business deals in the renewable sector are growing despite a scale back of government incentives, according to new analysis.

The claim comes as data provider mergermarket releases new figures which shows worldwide buying and selling in renewable energy in 2011 was up €10billion (£8.4bn) on the year below, hitting €26billion (£22bn).

Junaid H. Chida, managing partner at Dewey & LeBoeuf LLP suggested pressure from big corporations was replacing government incentive as a drive towards clean energy.

Mr Chida said: “While the expiration or scale-back of governmental incentives in Europe and the U.S. will no doubt have a negative impact in the short-term, pressure from giant corporates, such as Wal-Mart, on their suppliers to reduce greenhouse gas emissions is generating growth in clean and renewable energy transactions at all points in the value chain.”