The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

In this May 18, 2011 file photo, a wind turbine stands near Arlington, Ore. Renewable energy is growing fast around the world and will be the second biggest source of electricity, after coal, by 2016, according to a five-year outlook published Wednesday, June 26, 2013, by the International Energy Agency.
In this May 18, 2011 file photo, a wind turbine stands near Arlington, Ore. Renewable energy is growing fast around the world and will be the second biggest source of electricity, after coal, by 2016, according to a five-year outlook published Wednesday, June 26, 2013, by the International Energy Agency.
(Rick Bowmer/AP)

FINANCIAL TIMES

Winds of change blowing positive for renewables

Lex is a premium daily commentary service from the Financial Times. It helps readers make better investment decisions by highlighting key emerging risks and opportunities.

Thanks, Mr President. Ripples from the latest Obama plan on climate change – which would place controls on carbon dioxide-emitting power plants while boosting renewable energy production on federal lands – spread quickly. While the U.S. coal industry wailed and related shares fell, there was an offsetting fillip for investors in Europe’s wind turbine makers. Shares in Denmark’s Vestas, now number two globally behind General Electric, jumped over 5 per cent on Wednesday. Smaller peers, like Spain’s Gamesa and Germany’s Nordex, also notched up gains.