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The unsuccessful success story

November 30, 2013

Michel, on his blog site “Trust, yet verify” provides an interesting European perspective on alternative energy development and energy strategy.

Trust, yet verify

Last week there was quite some fuss about the near bankruptcy of a Belgian green energy producer, Electrawinds. They manage installations that produces green power via wind, solar, biomass and also bio-diesel.

I know there were a lot of bankruptcies last year among for example solar panel installers (because of less subsidies given to install solar panels), but Electrawinds isn’t really a small company and received loads of governmental support. Until shortly it was considered a success story. There were many projects, not only in Belgium, but also in France, The Netherlands, Italy, Serbia and Kenya. There were even plans to build a prestigious, futuristic looking new headquarter in Ostend.

But last year they reported a loss of 361 million euro and then things went downhill very fast. Several efficiency measures were taken, involvement in some projects (bio-diesel) was diminished, two rescue plan were rejected. If they don’t come up…

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