But when quizzed by a shareholder about why they were selling off such good assets - selling the things investors had bought into BBW to own - BBW came up with entirely new reasons. Now BBW says the Spanish wind farm operation is a dog - a low-yielding asset that didn't produce and economic return. That's a little at odds with the glowing picture painted in previous reports. I'm not sure it was the smartest thing to say when the sale hasn't settled yet.

Wind power can't survive without massive subsidies, courtesy of you and me. "If these hidden subsidies were taken away, there would not be a single wind turbine built in Britain," says David Bellamy, a well-known environmentalist who has been tramping the Scottish countryside to oppose a massive wind project there. ...When will we stop pouring billions into wind? I have no idea. Politicians really love their turbines. Meantime, that soft whooshing sound you hear is your friendly green government, vacuuming money out of your pockets.

This morning BBW and BNB announced they were selling their 50/50 Portuguese wind farm joint venture to a Portuguese private equiteer Magnum Capital for $2.23 billion. A year after BBW bought its half from parent BNB, BBW is recording a loss of $11.7 million while BNB is claiming a small but undisclosed surplus over book value. But that's not really the point of this transaction. Everyone knows why BNB is selling - it rather desperately needs money to pay down debt.

Once a booming industry thanks to sky-high oil prices, the feel-good trend, carbon reduction and subsidies, the financial crisis has pushed investors to give up on green energies, and like the dot-com bubble of 2000, some analysts say it's about to burst. ..."I think economic reality will kill the green industry," said Mr. Buckee, who now lives in Britain and lectures on climate change. Solar energy isn't alone in its woes. Wind, biomass, biofuel and other "clean-tech" companies are getting pasted too as the financial crisis sends investors fleeing from technology names, dries up credit and freezes the IPO market.

When you think of the care that France lavishes on its landscape, it's surprising that so little has been done to control the proliferation of ugly wind farms. Rather belatedly, a small revolt is now brewing against what the opponents see as a state-subsidised racket in the name of sustainable development. ...They [the turbines] may not look too bad in the semi-urban countryside that prevails in the low countries and other parts of northern Europe. But it's sad to see them becoming a menace to the spacious countryside of France. Lets hope that they can put more off shore or develop other renewable sources such as tide and wave power.

A series of events on bats look set to be overshadowed by problems affecting the mammals' chances of survival, according to an expert. Anne Youngman, the Bat Conservation Trust's Scottish officer, said wet weather may have hit the breeding season for a second year running. ...On the agenda is a presentation on wind farms in mountain areas of Portugal. Ms Youngman said: "Wind farms were a hot topic at the last symposium. "In Germany, there are turbines above forests and the mortality rate of bats has been found to be high.

One of Spain's last untouched landscapes, the Sierra de Gata in north-western Extremadura, may shortly be inundated with up to 91 wind farms. Ecologists are increasingly concerned about the impact these "parques eólicos" may have on the varied wildlife of the region - and, not least, on its pristine landscapes. Currently, Extremadura is popular with nature tourists, particularly walkers and birdwatchers from all over Europe. For centuries this region was so off the beaten track that many people in the Spanish cities had never heard of it. Now the Sierra is waking up to the 21st century, and it threatens to be a rude awakening.

These days we read and hear more and more about the exponential increases in renewable energy, particularly large wind farms such as those sprouting up on Colorado's front range and eastern plains. Colorado's Amendment 37 requires the state's largest utility companies to produce 10 percent of their energy from renewable sources by 2015. A subsequent legislative action doubled that to 20 percent by 2020. ...This is all great news, right? Not if you are an independent grid system operator, and not if you're expecting all of this large scale wind power to help reduce global warming carbon emissions. Wind power is by nature a notoriously intermittent source of power. Wind simply doesn't blow steadily all of the time. Therefore, the power output of all large scale wind farms goes up and down dramatically throughout the day, regardless of the demand for power on the grid. ...Without energy diversity, the more renewable power we mandate, the more unreliable the grid will become. The laws of physics simply can't be amended.

But a new proposal for a deep-water, off-shore wind farm answers all the skeptics' objections and, in addition to its environmental benefits, could be an economic boon to southeastern Massachusetts. Blue H USA LLC has recently installed the world's first deep-water windmill off the coast of Italy and now wants to bring that technology to the South Coast, which has been referred to as the Saudi Arabia of wind energy because of its dependable North Atlantic winds. Rather than fight critics, Blue H has embraced their concerns and worked to satisfy them, maximizing the positives of the technology while minimizing the perceived negatives. The solution? Locate the turbines out to sea on floating - but stabilized - platforms similar to oil rigs, far away from any people or animals.

Wind energy opponents often rattle off a litany of objections: Windmills aren't aesthetically pleasing (a notion many dispute); they pose a danger to migrating birds; they're noisy; they're inefficient and expensive. But a new proposal for a deep-water, off-shore wind farm answers all the skeptics' objections and, in addition to its environmental benefits, could be an economic boon to Fall River. Blue H USA LLC has recently installed the world's first deep-water windmill off the coast of Italy and now wants to bring that technology to the SouthCoast ...It turns out answering the critics is actually a benefit to the technology, as 90 percent of the potential energy from wind is well offshore in deep water.

Royal Dutch Shell took a lot of flak when it pulled out of the huge "London Array" offshore wind farm in the U.K. last week. The prevailing explanation for the withdrawal? Higher oil prices make old-fashioned energy a more attractive investment than still-immature renewable energy. Perhaps there's a less-conspiratorial explanation. Maybe offshore wind power just isn't up to snuff yet. Denmark's Vestas, the world's biggest wind-turbine maker, today said Europe should curb its enthusiasm for massive offshore wind farms, and focus on regular onshore wind power.

Only George Orwell could have invented - and named - the British Government's Renewable Transport Fuel Obligation (RTFO) that came into operation yesterday. It is the latest in a long line of measures intended to ease the conscience of the rich while keeping the poor miserable, in this case spectacularly so. ...The British Government has been persuaded by the wind turbine manufacturers to commit a third of its annual renewables subsidy to this uniquely inefficient energy source, advertising over hill and dale the cabinet's horror of making a decision on nuclear power. ...If all these fancy subsidies and market manipulations were withdrawn tomorrow and government action confined to energy-saving regulation, I am convinced the world would be a cheaper and a safer place, and the poor would not be threatened with starvation. Just now, for reasons not all of which are "green", commodity prices are soaring. Leave them. Send food parcels to the starving, but let demand evoke supply and stop curbing trade. The marketplace is never perfect, but in this matter it could not be worse than government action. Playing these games has so far made a few people very rich at the cost of the taxpayer. Now the cost is in famine and starvation. This is no longer a game.

One litre of solid or liquid fossil fuel contains tens of thousands of times the energy of one litre of wind-turbine air moving at 20 knots, the speed needed for viable large wind turbines. A 2000mw steam station using compacted fossil fuel can be housed in a single building. Large turbines in suitable wind can generate about 10mw per sq km of land, so it needs 200 sq km to replace that coal station if wind blew continuously, but more to compensate for periods when some turbines are becalmed. ...The above large magnitudes should be borne in mind. Solar energy cannot be harvested in small structures, so they will always be highly visible.

What's telling is that the European interest hasn't wavered even though U.S. federal subsidies for clean energy are slated to expire this year and have yet to be extended. Historically, the federal tax-credits have been make-or-break for the industry. Now, though, it appears other factors weigh more heavily. EDP is so anxious to expand in the U.S. that it ordered more wind turbines from India's Suzlon this week, even though those Suzlon machines have had technical glitches. The big drivers? State incentives for renewable energy, like those in Texas; a slow but inexorable shift in the U.S. toward cleaner energy; and the high-quality wind resources in the U.S., which dwarf those of Europe (and other parts of the world.)

While wind energy is being wildly supported by many in the U.S., there have always been drawbacks to the performance and costs of these machines. The U.S. has had a heavily subsidized romance with them for nearly 40 years and too few of the state and federal policy makers have taken a close look at what the tens of billions in subsidies have actually done for the taxpayers. These wind energy programs have made many companies such as Florida Power and Light very wealthy because of the heavy subsidies, tax credits, and accelerated depreciation allowance. Additional benefits come from local taxing authorities. This source of energy remains very unreliable and limited, having produced only about 1% of the nation's energy for decades.

Here's the $36 billion question: Is wind power an expensive distraction or a key ingredient in the global energy cocktail? It all depends how you move the juice. ...Doubts over the real contribution of wind power aren't just an American thing. Energy Tribune recites the entire litany of arguments against wind power, one of Britain's hopes for curbing emissions of greenhouse-gases and meeting ambitious European targets for clean energy. ET's verdict? Wind power is "overblown": Too dependent on subsidies, plagued by technical problems, intermittent, and ugly to boot, threatening to tarnish forever British hills and beaches. (Ask vacationers in Brighton what ugly really is.) It's true that wind power's development-in the U.S. and elsewhere-relies almost entirely on subsidies. ...And there's little chance wind farms will ever come close to producing 90% of their headline generation capacity, as nuclear does; the best machines in the best spots now offer about a 35% "load factor". But the real question when computing cost doesn't lie just with the turbines themselves, but rather how to get that electricity onto the grid.

Worldwide opposition to wind power has now reached a crescendo and governments have been forced to respond with new planning regulations which impose the technology, often against huge objection. Public distaste for wind turbines revolves around landscape impact and concerns about noise and loss of tranquillity, but technical objections are of greater concern. ...The power industry concedes that wind turbines would not be built without unprecedented consumer-sourced subsidy or massive tax breaks. It is time for the threat posed by intermittent renewables, not least in requiring CO2-emitting coal-fired spinning reserve, to be investigated independently, without political interference.

Another area where the French have emphatically got it right is in power generation. After the oil shocks of 1973, France, with no significant oil or gas reserves of its own, embarked on a massive expansion of nuclear power, completely ignoring the doom-mongerers such as Greenpeace. The result has been an unqualified success story. Today, France has 59 nuclear power plants producing 78 per cent of its electricity needs. Electricity is so cheap and abundant that much of it is exported to the UK and Germany, earning the French economy about three billion euros a year. ...And because nuclear emits no carbon or pollutants, France is also one of the "greenest" countries in the industrialised world.

While it is correct that wind, wave and other renewable energy can save on CO2 emissions synchronizing demand and output to protect the grid comes at a heavy price. In a report by David White, Reduction in Carbon Dioxide Emissions: Estimating the Potential Contribution from Wind-Power, commissioned by the Renewable Energy Foundation, December 2004, White found that, "Fossil-fuelled capacity operating as reserve and backup is required to accompany wind generation and stabilize supplies to the consumer. That capacity is placed under particular strains when working in this supporting role because it is being used to balance a reasonably predictable but fluctuating demand with a variable and largely unpredictable output from wind turbines. "Consequently, operating fossil capacity in this mode generates more CO2 per kWh generated than if operating normally."

In 1996, Denmark went on to hit industrial producers with a $15 per tonne carbon tax, initially neutralized by cuts in payroll taxes. What happened? By 1998, manufacturers started shutting their doors due to high energy prices, and overall Danish carbon tax revenues started to fall along with manufacturing jobs. At the same time, the cost of government programs rose significantly. The government's solution incredibly was to - wait for it - subsidize electricity to select manufacturers and raise income taxes by lowering the income threshold on the country's top marginal rate. By 2001, with economic growth hovering at one- seventh-of-one-percent, Danes making over CAD$50,000 paid 59 per cent of their income in taxes and had to cope with record electricity prices. The entire debacle led to a change of government that year, with the incoming government promising a tax freeze, followed by a tax reduction - including those taxes on energy.