The World's #1 Renewable Energy Network for News & Information
Sign In or Register
Renewable Energy World Logo
Wednesday, May 22, 2013
  • Sections
    • Home
      • News
      • Opinion & Commentary
      • Featured Blogs
      • Research & Reports
      • Video
      • Press Releases
      • All Blogs
      • Events
      • Products
      • Finance
    • Solar
      • News
      • Opinion & Commentary
      • Featured Blogs
      • Research & Reports
      • Video
      • Press Releases
      • All Blogs
      • Events
      • Products
      • Finance
    • Wind
      • News
      • Opinion & Commentary
      • Featured Blogs
      • Research & Reports
      • Video
      • Press Releases
      • All Blogs
      • Events
      • Products
      • Finance
    • Geothermal
      • News
      • Opinion & Commentary
      • Featured Blogs
      • Research & Reports
      • Video
      • Press Releases
      • All Blogs
      • Events
      • Products
      • Finance
    • Bio
      • News
      • Opinion & Commentary
      • Featured Blogs
      • Research & Reports
      • Video
      • Press Releases
      • All Blogs
      • Events
      • Products
      • Finance
    • Hydro
      • News
      • Opinion & Commentary
      • Featured Blogs
      • Research & Reports
      • Video
      • Press Releases
      • All Blogs
      • Events
      • Products
      • Finance
    • Careers
    • Companies
      • Company Directory
      • Press Releases
      • Products
      • Events Calendar
      • White Papers
    • Webcasts
      • Upcoming Webcasts
      • Featured Webcasts
      • Archived Webcasts
      • Events Calendar
    • White Papers
    • Magazines
      • Renewable Energy World
      • Wind Technology
      • Large Scale Solar
      • Hydro Review
      • HRW - Hydro Review Worldwide
      • Renewable Energy World (North America Edition)
      • Photovoltaics World
    • Awards
  • Account
    • Sign In
    • Register
  • Search
Don't Miss The Great Solar Debate: Where Does the Global Solar Industry Stand? ×

Mafia 'Wind-Leader' Busted

Stephen Lacey, Editor
September 16, 2010  |  3 Comments

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.

3 Comments

Register To Comment
Barbara Durkin
Barbara Durkin
September 24, 2010
It was IVPC Oreste Vigorito who was arrested in November of 2009 in operation "Gone with the Wind". IVPC original investor was Brian Caffyn. 7 IVPC wind projects were seized by police in Italy as they failed to produce energy, yet developers still collected public subsidies.

Boston Business Journal (4/18/05)
"As James Gordon creeps closer to fulfilling his vision of a windmill power farm off Cape Cod, his erstwhile partner, Brian Caffyn, still faces headwinds in his efforts to plant turbines on Hardscrabble Mountain in Vermont and other peaks and plains across the country.

Caffyn, a Babson College graduate, is unaccustomed to wind projects getting mired in the doldrums. He founded UPC Group in Europe several years ago, and in 2000 a subsidiary completed what then was one of the world's largest wind plants, a 170 megawatt plant near Naples, Italy, that cost $260 million. It then put together a $325 million syndicate for more windmills in Italy."

http://boston.bizjournals.com/boston/stories/2005/04/18/story8.html

Cape Wind has a no "bid deal" for Nantucket Sound. Thusly, Cape Wind has not been "vetted" in a competitive bidding process. This scenario exposes the environment, rate and taxpayers to unacceptable risks. It's reprehensible that the regulators have never asked the question:

Who are these guys, Cape Wind, EMI, UPC, First Wind, IVPC?

http://bjdurk.newsvine.com/_news/2010/02/23/3941508-who-are-these-guys-cape-wind-emi-upc-first-wind-ivpc

'The Cape Wind offer National Grid couldn't refuse'

http://bjdurk.newsvine.com/_news/2010/05/08/4257649-the-cape-wind-offer-national-grid-couldnt-refuse-
Douglas Prince
Douglas Prince
September 17, 2010
"I'm going to make you an offer you can't refuse. PHE-EWW! PHE-EWWW!"
Edward Wilhelm
Edward Wilhelm
September 17, 2010
This one is kind of hard to believe. 1.5 billion euros , mafia, government, 43 companies ? I don't want to go down this rabbit hole. We need green jobs at all cost, please , this is small compared to petroleum corruption.

Add Your Comments

To add your comments you must sign-in or create a free account.

  • Create a Free Account!
  • Sign-In
Stephen Lacey

Stephen Lacey

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...
  • About
  • Articles
  • Blog
  • Contact
  • FOLLOW
  • CONTACT
Stay Connected
         
To register for our free e-Newsletters, create your free account here:

Editors' Picks

  • EU Debate Over Climate Change Policy Could Dampen Renewable Energy Growth
  • Wind Power — Even without the Wind

Most Commented

  • 17
    The Economic Case for Divesting from Fossil Fuels
  • 12
    Breakdown: Penetration of Renewable Energy in Selected Markets
  • 6
    No Easy Fix for Broken Wind Turbine at US High School
  • 6
    Ireland Keen to Hit 2030 Renewable Targets, Says EU Ambassador

Total Access Partners

Growing Your Business? Learn More about Total Access
  • North American Board of Certified Energy Practitioners
  • Canadian Clean Energy Conferences
  • RenewableEnergyWorld.com
  • 2GreenEnergy.com
  • Natural Power
  • Eaton
  • Renewables Academy AG (RENAC)
  • Renewable Energy World Magazine
News
  • Renewable Energy
  • Solar Energy
  • Wind Energy
  • Bioenergy
  • Geothermal Energy
  • Hyrdo Power
  • Blogs
  • Video
  • Finance
Resources
  • Companies
  • Products
  • Careers
  • Events
  • Webcasts
  • White Papers
  • Magazines
  • Press Releases
  • e-Newsletters
Company
  • About Us
  • Our Team
  • Contact Us
  • Advertising & Services
  • Privacy Policy
  • Terms & Conditions
  • Site Map
Network Partners - Magazines
  • Hydro Review Magazine
  • Hydro Review Worldwide Magazine
  • Renewable Energy World Magazine
Network Partners - Events
  • Power-Gen International
  • Renewable Energy World Conference & Expo North America
  • Renewable Energy World Conference & Expo Europe
  • Renewable Energy World Conference & Expo Asia
  • Renewable Energy World Conference & Expo Africa
  • Renewable Energy World Conference & Expo India
  • HydroVision International
  • HydroVision Brazil
  • HydroVision India
  • HydroVision Russia
© Copyright 1999-2013 RenewableEnergyWorld.com - All rights reserved.
RenewableEnergyWorld.com - World's #1 Renewable Energy Network for news & Information