LONDON--(BUSINESS WIRE)--Rising demand from diverse places such as Germany, Japan, China, and Spain visibly has fueled increases in clean energy stocks the past two years, as seen in the NEX Index that began calculating in early 2006.
It was anticipated America could significantly add to the growing demand; however a November surprise came on unexpected reports House and Senate leaders might in a short-term remove some key incentives for renewables from a recent U.S. energy bill.
As a result clean energy stocks and hence the WilderHill New Energy Global Innovation Index saw some sharp movements during November, with declines in the NEX as well as in broader markets worldwide. The Index posted a one-month’s decline of roughly -4% for November, yet posts growth of about +48% for the Year-to-Date 2007 to December 1. Notably too the NEX passed a +100% mark in October 2007, a time of earlier highs, having at that point more than doubled when measured since the start of January 2006.
Also in November news and in fast-growing European exchange-traded fund markets, it was announced Invesco PowerShares launched 3 ETFs on the London Stock Exchange including a PowerShares Global Clean Energy Fund (AMEX: NEX) which offers greater access to clean energy, a corner of the market previously difficult to access.
| Top 5 Gainers / Losers in NEX in %, November 2007: |
| First Solar (U.S.A.) +49.3% |
| Suntech Power Holdings Co Ltd (China) +34.4% |
| Centrotec Sustainable AG (Germany) +14.8% |
| Evergreen Solar Inc (U.S.A.) +13.9% |
| Verbio (Germany) +13.9% |
| |
| Ebara Corp (Japan) -25.9% |
| Itron Inc (U.S.A.) -27.9% |
| Yingli Green Energy Holding Co. Ltd. (China) -28.7% |
| Verenium Corp (U.S.A.) -31.4% |
| Brasil Ecodiesel (Brazil) -37.6% |
| |
| Nine Sectors of the NEX: Performance Changes in November |
| Renewable: Solar (18 constituents) +1.4% |
| Renewable: Wind (13) +0.9% |
| Renewables: Other (7) -4.1% |
| Services & Suppliers (5) -4.3% |
| Power Storage (6) -5.4% |
| Generation Efficiency, SD (6) -9.7% |
| Demand-Side Energy Savings (11) -11.4% |
| Renewables, Biofuels, Biomass (17) -13.0% |
| Hydrogen & Fuel Cells (5) -13.7% |
| TOTAL (88) -3.67% |
About WilderHill New Energy Global Innovation Index
WilderHill New Energy Global Innovation Index (NEX) is comprised of companies worldwide whose innovative technologies focus on generation and use of cleaner energy, conservation, efficiency and advancing renewable energy generally. Included are lower-carbon approaches relevant to climate change, smarter solutions that avoid greenhouse gases and technologies reducing emissions relative to traditional fossil fuel use. A majority of companies in NEX are listed on exchanges outside of the United States.
NEX Index launched February 1, 2006 and is published by WilderHill New Energy Finance LLC as a partnership between New Energy Finance Limited based in London, Joshua Landess based in the U.S., and Dr. Rob Wilder based in the U.S. http://www.nex-index.com
About New Energy Finance
New Energy Finance is the world’s leading independent provider of research to investors in renewable energy, biofuels, low-carbon technologies and the carbon markets. The company’s research staff of 50 (based in London, Washington, New York, Beijing, Shanghai, New Delhi, Tel Aviv and Perth) tracks deal flow in venture capital, private equity, M&A, public markets, asset finance and carbon credits around the world.
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