Tuesday, October 21, 2008

Update to "Credit Crunch: Clean Energy Meltdown: Now GE’s Bailing"

General Electric has responded to Environmental Capital's post "Credit Crunch: Clean Energy Meltdown: Now GE’s Bailing". From EC:

Financial Fallout: Why Renewable Energy Has the Blues

Renewable energy’s gone in the space of a few months from market darling to whipping boy. Shares in solar- and wind-power companies have suffered even more than the market at large. The outlook for new projects is growing increasingly cloudy.

But that’s not because renewable energy suddenly got uglier. It’s because of the fallout from financial-market turmoil, says Andy Katell, head of communications at GE Financial Services, who took umbrage at yesterday’s post....MORE