Wind Sector Leads NEX Growth

NAW Staff, Wednesday 10 January 2007 - 10:55:12

The WilderHill New Energy Global Innovation index (ticker NEX) of quoted clean energy companies ended the year up 33.3% at 288.25, according to London-headquartered New Energy Finance, an analyst to investors in the renewable energy, biofuels, low-carbon technologies and the carbon markets. The top sector for the index was wind, up by 65%, followed by biofuels, biomass and waste-to-energy, up 60.7%. The hydrogen and fuel cells sector finished down 12.3%.

According to a statement from New Energy, the wind industry benefited from the perception that it is approaching maturity and is now close to being cost-competitive with fossil fuels, as well as the extension of the U.S. production tax credit to 2008. Biggest gainers in the sector were European turbine companies, such as Nordex of Germany (up 172.4%) and Vestas of Denmark (130.7%), which, New Energy notes, recovered from a difficult period after its acquisition of NEG-Micon.

For the first quarter of 2007, new entrants on the index include BMWK FMB Energy, a Swiss energy company that is active in the solar, wind, biofuel, hydroelectricity and nuclear sectors; EDF Energies Nouvelles, the former wind project development arm of EDF; and Theolia, a French wind project developer.

The NEX was launched in January 2006, under the ticker symbol NEX, and is calculated by the American Stock Exchange.



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