Analysts, industry officials see bright outlook for renewable energy

first_img FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Banks have been lining up in recent months to finance a trio of solar plants that Scatec Solar ASA is developing in Tunisia. The offers are unlike anything that Raymond Carlsen, Scatec Solar’s CEO, says he has ever seen. “I have to say that I’m positively surprised how eager the banks have been to support us,” Carlsen told analysts July 17.As companies and governments try to steady themselves from the coronavirus crisis, investors and executives in the renewable energy sector say business is chugging along, attracting new money and players as it goes. The momentum is being fueled by a potent mix of falling technology costs and popular support for green government and corporate policies and sustainable investing.“I don’t think this trend is going to reverse,” Dennis Arriola, CEO of Avangrid Inc., which is sitting on a massive pipeline of renewable energy projects in the U.S., said July 22 on a call with analysts. “When you look at what’s going on with [environmental, social and governance] investing and, specifically, the growth and continued trends in clean energy, I think we’re really well-positioned.”So far this year as of July 23, the Invesco Solar ETF, which invests in stocks tied to the global solar market, is up 48.5% compared to a 1.4% increase in the value of the S&P 500 and a 44% decline in the S&P Oil & Gas Exploration & Production Select Industry Index.Outside of equity markets, funding for renewable energy projects rose 5% during the first half of 2020 despite economic and financial disruptions from the pandemic as an investment spike in the offshore wind market offset sharp declines in other sectors, according to analysts at BloombergNEF.Top investors see little chance the industry will be knocked off course. “The time for renewables is now,” James Robo, chairman, president and CEO of NextEra Energy Inc., said July 24 on a call with analysts. “Frankly, the economics and the need to … decarbonize not only the electric sector but the rest of the sectors of the economy … transcend what happens in elections.”Benoit Allehaut, managing director of clean energy infrastructure at Capital Dynamics AG, agreed. “We think solar is happening everywhere,” Allehaut, whose firm has $6.4 billion of renewable energy assets under management, said in a recent interview. “So, it is about simply having feet on the ground and making sure that when people are asking for the product, you have it available.”[Michael Copley]More ($): Clean-energy optimism soars as world struggles with the pandemic’s fallout Analysts, industry officials see bright outlook for renewable energylast_img read more