If You Want an Investment Portfolio Full of Dog Stocks Try Filling it With Renewable and Green Punts

In 2014 I was asked to look at how synthetic LNG production could save wind operators in Eastern Austria from financial doom. They had reached the end of their very generous subsidy periods and should have been financially viable years ago if one were to believe the investment prospects from the time when those projects were dreamt up. Of course, they were far from profitable even when all CAPEX had been paid off already. However, the government needed to get rid of the subsidy payments as public finances were already under strain. They could not even cover their operating cost despite still essentially free grid balancing services. What’s a dud if not this!

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