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Gone With the Wind: Weak Returns Cripple German Renewables

Gunther Latsch, Anne Seith and Gerald Traufetter — Der Speigel — January 30, 2014

Investments in renewable energy were supposed to be a sure thing, with wind park operators promising annual returns of up to 20 percent. More often than not, however, such pledges have been illusory — and many investors have lost their principal to boot.

Three broadcasting vans. Ten camera teams. Some 50 journalists. There certainly wasn’t any lack of attention being paid to Carsten Rodbertus last Thursday as he stepped up to the podium in an assembly hall in northern Germany belonging to the renewable energy firm Prokon. And the company founder, with his gray ponytail, didn’t disappoint. The press conference quickly became a spectacle.

Several hundred employees welcomed Rodbertus with applause and shouts of “bravo” — and that despite the fact that he had brought an insolvency trustee along with him. Still, Robertus insisted that the company was essentially healthy. Recently, he noted, workers had labored “12 days in a row for 12 hours a day” in an attempt to ward off bankruptcy.  Continue reading here….

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One Comment on “Gone With the Wind: Weak Returns Cripple German Renewables”

  1. 1957chev January 31, 2014 at 6:39 pm #

    I hope everyone who has invested in wind, hoping to have a share in the money, that will be stolen from us, loses their shirt. Self-centered, greedy people, don’t deserve to be rewarded!

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