Renewable Energy Solar Energy Wind Energy Geothermal Energy Bioenergy Hydropower

Mafia 'Wind-Leader' Busted

By Stephen Lacey, Editor
September 16, 2010 | 3 Comments

Do you like this news?

Bookmark

Feed

Sicily, Italy -- 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.

The high-profile arrest of Vito Nicastri – who set up dozens of installation and manufacturing companies to launder money – proves just how deep the illegal behavior is in the renewable energy sector.

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.

Solar Energy, Wind Power

3 Reader Comments

Comment
1 of 3

edward-wilhelm-75955

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.

Comment
2 of 3

douglas-prince-175356

September 17, 2010

"I'm going to make you an offer you can't refuse. PHE-EWW! PHE-EWWW!"

Comment
3 of 3

barbara-durkin-58707

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-

Add Your Comment

Registered users, please make sure to Sign-In. We and others want to know your ideas and opinions. If you are not yet Registered -- it's quick and easy. Just click below.
Thanks!

NEW Smart Phone App

Stephen Lacey

About: 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, wh... more »