Financing for green firms will be tough to come by for about five years, according to a senior banking executive interviewed by Reuters.
Harro Pitkaenen, deputy head of lending at the Nordic Investment Bank, said it will take that long for confidence to recover. In addition, the cost of debt financing will be higher, as banks practice tougher oversight following the "wild excesses" that led up to the recent economic collapse.
At the same time, public financing for clean energy firms is also shrinking, particularly in Europe, where governments look to cut deficits.
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