Greece, Italy, Portugal, Spain and Ireland offer excellent conditions for harvesting renewable energy from the sun, wind and geothermal sources. Why not give these countries the opportunity to pay off a substantial part of their debts in this way? How? By giving creditors concessions for large scale investment programs in renewable energy in these countries that offer enough long-term financial profit. We are talking solar panels, wind parks or geothermal power stations.

Last week, the Dutch economist Sweder van Wijnbergen published an article in NRC Handelsblad claiming that the troubled European economies need both debt reduction and an investment program in order to give their people new hope and a growth prospect. This can be achieved by partly converting debts into renewable energy concessions.

 A 30% debt reduction should be possible, assuming a 2,5% average yearly inflation, a modest 1,5 Eurocent profit per kWh in the 2020-2045 period and a conservatively estimated yield of 70 Gigawatt hour per square kilometer per year. Having a 40 billion Euro debt, Ireland ought to give 550 square kilometer into concession. This is less than one percent of Ireland's total surface. For Portugal, with 78 billion Euro debt, this would be 1,000 square kilometer or one percent of its total territory. And Greece with a 210 billion debt would amount up to 2,800 square kilometer which is two percent of Greek territory. The energy projects don’t have to exclusively be large-scale and on a few big pieces of land. They could capitalize on vast opportunities for decentralized energy locally as well.

This plan only has winners. Read more in this article. Do you want to link to this film, please copy: http://www.new-energy.tv/internationaal/get_rid_of_those_debts_with_sun_and_wind.html