Comment financer les énergies renouvelables

NEW-YORK – Le secteur privé dispose de beaucoup d'argent pour financer les infrastructures nécessaires au développement des énergies renouvelables dont le monde a besoin - pour autant que cela paraisse rentable et que les investisseurs du secteur privé voient comment y parvenir sans le soutien financier de l'Etat.

Mais cela ne se fera pas sans subvention. Pourquoi ? A titre d'exemple, L'électricité provenant de l'énergie solaire revient 1,5 à 2 fois plus chère que celle issue des centrales à charbon. L'investissement initial pour une turbine à vent et les câbles de transmission est beaucoup plus important que celui nécessaire à la construction d'une centrale électrique classique, alors même que le vent est gratuit et qu'il faut payer pour le charbon. En ce qui concerne les énergies renouvelables, les investisseurs exigent une rentabilité plus importante que celle du marché ou une autre forme de dédommagement qui traduise l'intérêt que représentent pour la société les sources d'énergie sans émission de carbone.

Le cas de ma propre entreprise, Christofferson, Robb & Company (CRC), illustre la manière dont, avec des subventions adéquates, les marchés financiers peuvent financer les énergies renouvelables. En 2005-2006, nous avons acquis des projets d'énergie renouvelable terrestres d'une puissance de 330 mégawatts en France et en Allemagne. Notre fonds a contribué au capital et une banque a prêté la somme nécessaire pour financer la construction. Une fois le portefeuille constitué, nous avons vendu les projets à un véhicule spécial crée dans ce but, CRC Breeze Finance, qui a émis des titres adossés à des actifs à hauteur de 470 millions d'euros.

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