German banks now banned from financing offshore wind farms

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5/12/12, "Wind farms, which can finance a pig," "With stricter regulations for financial markets, the banks complain, they endanger the energy transition." WirtshaftsWoche, Germany, H. Krumrey

"The knockout blow for the financing of offshore wind farms is the so-called matching maturities, which was aggravated to stabilize financial markets. After that banks should deposit their loans with a refinancing of similar maturity. After all, the banking crisis, banks in difficulty, who had the money for long-term loans borrowed in the short term only."...(parag. 4)...

"The warning by the Federal Network Agency is clear: "closures of more conventional power plants is currently not feasible in Germany." Bundestag and the Federal Government should adopt appropriate legislation to force to prevent plant closures in the area of ​​conventional generation." (caption under picture) Source: Reuters. (google translation)

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5/14/12, "German Banks Banned From Financing Offshore Windfarms," ClimateChangeDispatch.com Benny Peiser

via Tom Nelson