ING says Netherlands needs to increase investments in green energy

Sep 20, 2011 - The Dutch state will need to increase investments in renewable energy in order to achieve environmental targets, Dutch bank ING said today.

Green power is set to cover 14% of the country's total electricity demand by 2020, while the current share of renewable sources is just 4%.

Investments in renewable energy currently amount to some EUR 2 billion (USD 2.7bn) per year, sharply below the needed EUR 10 billion.

ING sees wind power and biomass as major renewable energy sources.

The bank considers further that the government is giving contradictory signals in its budget plans for 2012.

On the one hand, ING dubbed positive that power grid operator Tennet will get more government funds to expand its electricity networks and make them suitable for green power transmission. The bank also pointed out to improved subsidy regulation for operating green power plants. On the other hand, the threshold for getting free of road tax for eco-friendly cars has increased, ING said.

(EUR 1.0 = USD 1.362)

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