07 January 2009
RENIXX: 2008 proved a weak year for renewable stocks
Muenster - RENIXX World, the worldwide stock index for the renewable energy industry, brought 2008 to a close with a loss of approximately 64% (close: 699.07 points). Following the high RENIXX profits in 2006 (+42%) and 2007 (+107%), stock prices collapsed due to the global financial crisis and the price of oil that has plummeted from its all-time high recorded at midyear, announced the International Economic Platform for Renewable Energies (IWR) in Münster, Germany.
All 30 of the international stocks listed on the RENIXX index ended 2008 in the red. The stocks of the wind turbine manufacturer REpower showed the greatest perseverance with a loss of 11 percent. The title for the lowest performance went to the US bioethanol manufacturer VeraSun, which recorded a loss of 99 percent. "2008 was a very difficult year for the international renewable energy industry," said IWR Director Dr. Norbert Allnoch. "However, the current turbulences in the financial and energy markets along with the short-term impact on companies cannot hide the fact that the long-term growth path for renewables remains intact," said Allnoch.
The RENIXX online:
http://www.iwr.de and http://www.renewable-energy-industry.com/stocks
Muenster, January 7, 2009
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Dr. Norbert Allnoch, International Economic Platform for Renewable
Soester Str. 13
Phone: +49 (0)251 / 23 94 6-0
Fax: +49 (0)251 / 23 946-10