“The government has a short-sighted view on renewables, which does not grasp the global potential of the sector and the role that Italian companies, including small and medium-sized ones, and not just Enel Green Power, could play”. As Andrea Gilardoni (Professor of Management at Bocconi and President of OIR – International Observatory on Industry and Finance of Renewable Energy) introduced the debate at the OIR annual conference which was held today at the Centro Congressi Fondazione Cariplo, Milan.
Several salient points emerge from the OIR Study 2014 presented today on global trends. 2013 was a record year for renewables in the world, exceeding 1.500 GW of installed capacity and investing over $200 billion, but historic records were set for both PV (+37 GW) and hydroelectric (+40 GW) ).
In the world of renewables, a world that will continue to grow in the future (at a rate of at least 200 billion dollars a year), the role of emerging countries is becoming increasingly important. As far as loans are concerned, banks will find it increasingly difficult to disburse them, but the role of unconventional lenders and development banks will grow.
"In short – continues Gilardoni, commenting on the numbers of the report -, globally the demand for renewables continues to grow as does liquidity in search of the best investments. We are talking about subjects, such as pension funds or insurance companies, which have 'real' money to invest and which require limited but stable, low-risk and long-term returns. These operators are looking with growing interest precisely to renewables where Italy has acquired a significant position on a global level. With reforms of the legislative and regulatory framework, reforms at no cost, it is possible to attract large quantities of liquidity for productive investments".
“The policy of the Italian government – he continues Gilardoni – on the subject is inadequate. A short-range vision that seems to be more the result of 'vengeful' logic towards those who have had excessive support. An industrial vision must instead recognize that: world demand is growing and that there is room for development in Italy as well. Even if spending far too much, we have developed skills in the country that can be affirmed, and are affirming themselves, in the world".
Given this, according to Gilardoni ” The Government should, if anything, support industrial activities dedicated to exports and also technological innovation processes, as well as recognizing that the sector is too fragmented and favoring a process of aggregation. The policy that emerges from the Spalma Incentivi Decree has none of this. On the contrary, it can generate a series of very negative counter-reactions for the sector and for the country".
