Uranium Set for Bull Market as Japan Review Nuclear Reactors
Japan may re-start around 10 nuclear reactors this year after safety reviews following the disaster at Fukushima, driving up the price of uranium. A survey of five different analysts show that uranium prices will average at $41 a pound this year- 14 percent more than the current price. Seven companies have applied for safety inspections on 16 reactors. The forecasts in the Bloomberg survey ranged from six reactor re-starts up to as many as 16. The re-starts certainly goes against the sentiments of majority of the Japanese as a poll released last week by NHK, the national broadcaster, showed 42 % opposition, 21 percent supporters while the rest are still undecided.
Green Projects Strong Enough to Lure Investments, Says IRENA
The International Renewable Energy Agency (IRENA) announced loans of $41 million for green energy projects in Ecuador, Maldives, Mali, Mauritania, Samoa and Sierra Leone. Adnan Amin, IRENA Director General, says that the six projects are proof that renewables are strong enough to attract investments. Amin adds that there was a tremendous increase in green energy investment in the Gulf region. Last week, Bloomberg released data revealing a decline in global investments for renewable. Amin says that it is understandable given the recession in many areas which have been previous front-runners in investment. Europe was mentioned as an example.
Allianz Seeks More Green Deals After Investing 400 Million Euros
Allianz Capital Partners will seek further clean energy transactions after investing more than 400 million euros in the industry last year. The company bought nine wind parks in 2013, bringing the Munich-based company’s total renewable investment portfolio to more than 1.75 billion euros. David Jones, head of renewable energy at Allianz, said that they will continue to sek opportunities in Germany, France and Italy. Expanding geographically can also be expected, he added.
$32 Billion-per-Year Green Cost Breaking Germany’s Back, Minister Says
Energy Minister Sigmar Gabriel said that Germany must reduce the cost of its switch from atomic energy to green energy to protect growth. Germany is currently burdened by as much as $32 billion per year for renewable due to subsidy payments. Germany must focus on the cheapest renewable energy sources as well as efficient fossil power plants to stop ballooning power rates. With the exception of Denmark, Germany now pays more for power than any European Union nation.