The Wall Street Journal’s ECO:nomics conference held last week had a number of investors who have placed big money into clean tech, like Joseph Dear, investment chief for the California Public Employees’ Retirement System. They created a fund which invested $460 million in clean tech and green energy and they have a -9.6% return, receiving one tenth of their capital back.
… our experience is that it’s a noble way to lose money and we’re not here to lose money
~ Joseph Dear, CIO CALPERS
As we’ve already said, without huge federal subsidies, projects like the one proposed here in North East would never get started, and the rush is on to move ahead before the money runs out. You get the impression it’s nothing but a game and North East is going to lose big if the project is approved.
Link: Wall Street Journal