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Vesta Wind Systems’ Share Price Plummets 30% As Green Tech Reels From Low Oil Prices

(Can we have a collective sympathetic, “Ahhhhhhh” for Vestas? — DQ)

Holly Ellyatt — Energy Future — December 19, 2014

The green energy market is fast becoming the latest to fall victim to the precipitous fall in global oil prices, as investors shun eco-friendly tech companies.

The price of benchmark Brent crude has fallen 46 percent since June on the back of a glut in global supply and waning demand, and has put pressure both the oil and commodity sectors.

Now, green energy firms are also suffering, as investors see the lower oil price as a disincentive to invest in greener technology – or so-called “cleantech.”

Danish wind turbine manufacturer, Vestas Wind Systems, has seen its share price slump almost 30 percent since June when oil prices started to fall from a high of $114 a barrel. Brent is currently trading around $60 a barrel.

Shares of one of the largest solar companies in the world, German company Solarworld, meanwhile, have slipped 26 percent since mid-June.  (Continue reading here….)

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