The World's #1 Renewable Energy Network for News, Information, and Companies.
Untitled Document

Mafia 'Wind-Leader' Busted

We've been hearing about how hot the Italian market for solar and wind is. But we 're only now beginning to realize how hot.

This week, an Italian renewable energy executive was arrested on charges that he used wind and solar projects to launder money for the mafia. Italian law enforcement seized 1.5 billion euros worth of assets, including 43 wind and solar energy companies, according to the BBC and the news agency AFP.

Officials say that the businessman, Vito Nicastri, was taking advantage of Italy's high feed-in tariffs and poor government management to create new companies and recycle cash. Land-owners who belonged to the mafia were also given preferential treatment when siting projects. Nicastri's nickname was, appropriately, the “Lord of the Wind.”

This is the part of the story where we joke about how renewables are supposed to be clean.

The problem of “dirty” wind and solar projects has been brewing for years in Italy and other EU countries. In November of 2009, the president of Italy's National Wind Energy Association was arrested for trying to embezzle tens of millions of euros designated for wind farms.

The high-profile arrest of Vito Nicastri – who set up dozens of installation and manufacturing companies to launder money – illustrates the depth of the illegal behavior in Italy's renewable energy sector.

No word on how the government crack-down may affect Italy's ability to meet European renewable energy targets. But if the problem is as serious as it seems, it could setback the industry as government officials freeze assets and re-evaluate incentives.

Untitled Document

RELATED ARTICLES

Global Renewable Energy Roundup: China, Kenya, Turkey, India Seeking More Renewables

Bloomberg News Editors China is being encouraged by three industry groups to double the nation’s solar-power goal for 2020 to make up for sh...

With Vast Amounts of Geothermal, Wind and Hydropower, Why No Solar In New Zealand?

James Ellsmoor, Contributor New Zealand has built an international brand on environmentalism and the great outdoors. So it is unsurprising that t...

GE low wind turbines make debut in France

Kelvin Ross

A new wind farm in France will be the first in the country to deploy GE’s 2.75-120 wind turbines.

Unlikely Allies in North Carolina Clean-Energy Fight

Mark Drajem, Bloomberg With North Carolina’s renewable energy mandate under assault from Republican legislators, green groups seeking to sav...

PRESS RELEASES

Array Technologies’ DuraTrack HZ v3 Continues to (R)evolutionize at SPI

Array Technologies, Inc. (ATI) prepares to showcase its recently launched tracking syst...

Appalachian's Energy Center assists counties with landfill gas to energy projects

The Appalachian Energy Center at Appalachian State University recently completed a proj...

Early Bird Registration Deadline for GRC Annual Meeting is This Week

The deadline for early-bird rates for registration for the biggest annual geothermal ev...

Redesigned HydroWorld.com Video Gallery

Hydropower news and information, and interesting promotional announcements are now avai...

FEATURED BLOGS

Transitioning to Net-Zero Living

Judith and Jeffrey adore living in Belfast, Maine – a quaint harbor town of Belfast, Maine. They previously res...

The True Cost of Electric Vehicles in Australia

In order to avoid increased congestion, further greenhouse warming and lessen Australia’s reliance on imported ...

The Coming Multi-trillion Dollar Energy Investment Drive

In coming years, a multi-trillion dollar low-emission energy investment drive will get underway. Three catalysts wil...

The Perfect Elevator Pitch

The elevator pitch is a concise statement that grabs attention and communicates value, ideally leading to a next step...

FINANCIAL NEWS

I am a reporter with ClimateProgress.org, a blog published by the Center for American Progress. I am former editor and producer for RenewableEnergyWorld.com, where I contributed stories and hosted the Inside Renewable Energy Podcast. Keep in to...

CURRENT MAGAZINE ISSUE

Volume 18, Issue 4
1507REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

SOCIAL ACTIVITY

Tweet the Editors! @jennrunyon

FEATURED PARTNERS



EVENTS

Doing Business in South Africa – in partnership with GWEC, the Glob...

Wind Energy in South Africa has been expanding dramatically, growing fro...

Intersolar India 2015

Exhibition and Conference: November 18-20, 2015 Intersolar India 2015 I...

Intersolar North America 2016

Exhibition: July 12 - 14, 2016; Conference: July 11 - 13, 2016 Intersola...

COMPANY BLOGS

Less Is More

When you’re giving a presentation, one of the easiest things to do...

Captivology

One of the biggest challenges we face as efficiency sales professionals ...

How To Optimize Your Meeting Schedule

Do you spend more time in meetings than you do actually working? While m...

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS