Friday, March 4, 2011

Solar Coaster: "Italy moves to quell fears over solar incentives" (FSLR; STP SPWRA; TSL; YGE)

As well they should.
From Reuters:
Fri Mar 4, 2011 7:14pm GMT
* Banks, industry bodies concerned about impact on funding
* Industry minister to meet sector operators, bankers

ROME, March 4 (Reuters) - Italy's government rushed on Friday to quell concerns among banks and investors about the impact of new renewable energy rules on funding for the sector, pledging to reach an agreed solution on new solar incentives.

Italy removed a much-feared cap on production incentives for solar power generation in a new renewable energy decree approved on Thursday but included measures which could slow down solar growth. [ID:nLDE722105]

"The rapid definition of new incentives is my priority. Therefore I want first to meet the main banks and businesses involved," Industry minister Paolo Romani said in a statement.
"The next decree will give those willing to invest precise guidelines in terms of quotas, parameters and incentive levels," Romani said.

Pio Forte of UniCredit Leasing said on Friday that the banking world was concerned that the decree could impact funding for renewable energy.....MORE