RE: RE: RE: RE: How long can they keep it this lowDead wrong! EDF Renewable is majority wind power. "As of 2008, wind power accounted for 90% of EDF Energie Nouvelle's total installed capacity." And Iberdrola is mostly wind and solar.
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Enel Green Power is the company to look at: 50% of its capacity is in geothermal and hydro. Because those technologies are inherently economic the company relies less on government subsidies. Iberdrola and EDF Renewables have performed poorly because of regulatory uncertainty (and because wind is barely economic without subsidies).
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Enel Green Power's stock is up 28% since being IPO'd last November. Reported $US 3.1 billion in revenues and $US 1.8 billion EBITDA for 2010. Geothermal and hydro are winning. Also look at Mighty River Power in New Zealand, another utility heavy in geothermal and hydro. Profits up big.
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Enel Green Power has a market cap of US $14.78 billion versus EBITDA of US $1.8 billion, so is trading at 8.2X EBITDA.