03 July 2008
Disappointing First Half for RENIXX World – Higher Oil Prices Fail to Boost Renewable Energy Shares
Münster - In spite of rising oil prices, RENIXX World, the worldwide share index for renewable energy, lost approximately 22% in the first half year of 2008 (1,496 points as of June 30, 2008). According to the International Economic Platform for Renewable Energies (IWR) in Münster, the American bioethanol shares in particular as well as the large majority of solar energy assets developed sluggishly over the first six months. "Nevertheless, following the rapid rise of the RENIXX by over 100% in 2007, while taking into account the overall international market environment, the current consolidation should not be overestimated," said IWR Director Dr. Norbert Allnoch.
On July 1, 2008, Pacific Ethanol, Clipper Windpower, Ballard Power and Solarfun will withdraw from the RENIXX World as part of the regular index review and reweighting. For their part, Portuguese renewable energy supplier EDP Renovaveis, quoted since the beginning of June, British ingot and wafer producer PV Crystalox as well as the American-based wind energy companies American Superconductor and Broadwind Energy were recently added to the index.
About RENIXX World
RENIXX World (share index for renewable energy) is the first worldwide share index that tracks the performance of the 30 largest companies - measured on their market capitalization - in renewable energy technologies, the industrial field of the future. In order to be listed in the index, companies must generate more than 50 percent of their revenue within the renewable energy industry.
The RENIXX World share index live on the internet at: http://www.iwr.de/renixx-live
Münster, 3 July 2008
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Dr. Norbert Allnoch, International Economic Platform for Renewable
Energies (IWR).
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