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EU 2020 energy goals face 500 billion euro shortfall

Fri, 05/21/2010 - 7:24pm
Reuters

LONDON, May 21 - Europe's utilities do not have enough capital to meet goals to overhaul its energy supply by 2020 and pension funds would struggle to plug the gap, said Tom Murley, head of an investment fund at private equity firm HgCapital.

The weakened financial position of utilities resulted from falls in power demand as well as merger and acquisitions sprees before the financial crisis, he said.

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