Vestas Says "Hooroo" to Australia

vestasVestas, one of the world's leading wind energy companies, is leaving Australia, calling the nation's wind energy market "unviable."

Vestas Australia Wind Technology will close its 2 1/2 year-old turbine blade factory in Portland, Victoria at the end of this year. Consequently, 130 jobs will be lost. The Danish company's Asia-Pacific senior vice president, Jorn Hammer, was quite forthcoming with his criticism of the Australian government:

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More Opportunities Coming for Clean Energy

mariaI read with interest Marc’s August 13th post “Alternative Energy Sector Heats Up.” I, too, have been hearing whisperings of warnings that the clean energy market may be slowing down. At the same time, Merrill Lynch has announced the creation of an Energy Efficiency Index and the clean energy sector is the fastest-growing sector in Massachusetts. What’s more, the PowerShares WilderHill Clean Energy (NASDAQ:CLNE) Fund PBW was the best performing exchange traded fund (ETF) last week.

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