The Renewable Energy Industrial (RENiXX) Index is a stock index specialising in measuring the performance of the world´s 30 largest companies in the renewable energy industry
The index shows that these 30 companies (VC’s or “vampire companies”) have lost over 90% of their value since 2008. Here are some of them that have already filed bankruptcy, or are circling the drain right now. Many of these companies were financed directly by taxpayers. The rest were nourished and propped through colossal government subsidies:-
Filed for Bankruptcy: Solyndra, Beacon, PowerEner1, Range Fuels, Solar Trust of America, Spectrawatt, Evergreen Solar, Eastern Energy, Unisolar, Bright Automotive, Energy Conversion Devices, Sovello, Siag, Solon, Q-Cells, Mountain Plaza.
Heading down the gurgler; Abound Solar, A123 Systems, Brightsource Energy, Fisker Automotive, First Solar, Nevada Geothermal, SunPower, Nordex, The Bard Group, Amonix, NRG Energy, Alterra Power, Enel Green Power, Sunpower Corp.
But wait, who is this who comes bringing fresh blood to drink? Why it is the Archangel Gillard, with ten thousand million Australian dollars to hand out.
Basically to the companies of Germany and Japan and China lying in their coffins right now. All they have to do to qualify for Australian taxpayers’ money is to promise that the parts of the equipment they manufacture will be first sourced from Australian companies.
Since most of the parts that make the windmills or solar panels ‘work’ are patented and held by subsidiaries, Australian companies will be lucky if they get the contract for the handles on the sides of the solar panels.
Life will then pulsate through the walking dead companies until the 10 Billion is spent and back they go into the dark unless some other idiot government taxes the arse off its citizens to provide more blood.
Then they will flap off leaving behind parts and equipment to be sold at auction taking the biggest chunk of the ten billion that Gillard is gouging to follow her dream of sustaining the renewable energy fairy tale.
At this very minute Spanish renewable-energy companies that once got Europe’s biggest subsidies are deserting the nation after the government shut off aid, pushing project developers and equipment-makers to work abroad or perish. The unemployment level is nearly 25%.
Kiss ten thousand million dollars goodbye, Australia.
It’s not a new story, as Henry Lawson wrote over 120 years ago.
They come to learn us cricket in the days of long ago,
An’ Hanlan come from Canada to learn us how to row,
An’ ‘doctors’ come from ’Frisco just to learn us how to skite,
An’ ‘pugs’ from all the lands on earth to learn us how to fight;
An’ when they go, as like or not, we find we’re taken in,
They’ve left behind no larnin’—but they’ve carried off our tin.