Business opportunities are a plenty these days and many people are venturing into business as a method of income generation. However, the debt that comes with setting up a business is hard to handle and you have to opt for various methods of debt relief most of the times. With the U.S. teetering on unstable financial grounds after the government reaching debt ceiling on 2nd of May 2011 and the European Union nations going through a debt turmoil business prospects seem bleak at current economic times. However, if you venture to think further and extend your thinking capacity, you will find a very lucrative option looming above the horizon. This is investment in green stocks and venturing into green business. With the world suddenly becoming very much aware of the negative effects of many business activities on nature, the emphasis on eco building and green investment have gained momentum. One such green business is the wind energy market. There is tremendous scope in this market as currently the domestic wind energy market is being dominated by companies that are overseas.
The U.S. wind power market leaders hail mostly from Europe and now several new entrants from China have infiltrated the market. The stand alone U.S. Company is General Electric. Since most European nations have tackled the issues of environment rather aggressively quite early, European firms are leading way when it comes to renewable technologies. However, it will be inaccurate to assume that U.S. countries are getting left out of the business plans of those countries. In 2007, Energias de Portugal, which is the national utility bought from Goldman Sachs for $2.15 billion, the company Horizon Wind Energy. This is the highest price that has ever been paid for a wind only company. Along the same time Acciona, a Spanish company, acquired the rights to around 1,300 MW of wind farms in the Midwest.
The entry of China came a little while later, in 2009 when it marched into the Lone Star State with $1.5 billion for a 600+ megawatt wind farm. This project is basically a joint venture with Cielo Wind Power, Shenyang Power Group and U.S. Renewable Energy Group. After it gets completed, it will be able to provide enough power for about 180,000 homes. These turbines will be supplied by Chinese turbine manufacturer A-Power Energy. According to Jinxiang Lu, the CEO of Shenyang Power group, the U.S. would be an ideal target for alternative energy investment in foreign lands. Every region which is energy hungry is trying to portray its case most attractive wind power market. According to the most recent report of European Wind Energy Association (EWEA), wind has become the leader in terms of new installed energy capacity.
By the year 2020, it is being expected that wind will account for 34% of new generating capacity and by 2020-30 it will account for about 46%.
The opinions expressed in this article are solely those of the author Rick Murphy is a contributory writer associated with debtconsolidationcare.com. He holds his expertise in the Debt industry and has made significant contributions through his various articles.