Solar Power's Bright Future Dimmed by Business Stumbles
This year, new solar power installations in the US are projected to more than double in number. This bright future follows last year’s news that for the first time, global investments in photovoltaic cells totaled more than those in coal- and gas-fired power generation combined, reports The Economist. But good intentions are not always good enough. SunEdison, self-proclaimed as “the worlds largest renewable energy company,” has been found in “technical default” when it missed a $2.6 million payment on its over $11 billion in debt, reports Forbes. And Spanish renewable company Abengoa has avoided bankruptcy only by being given a pass by its creditors to create a debt-restructuring plan. The basic fundamentals of good corporate governance still apply, even to innovative technologies and the renewable energy sector.
John Howell, Editorial Director
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