Mihai David, former general manager of Hidroelectrica, currentlya member of the board of directors of the most valuable state-ownedcompany, believes a new bubble is forming, after the financialcrisis that broke out more than two years ago, with the peak of thenew bubble to be reached during the next five to six years. Whereasthe 2007 crisis was triggered by risky loans, exotic financialproducts and a highly overvalued real estate market, now thetrigger could be the energy sector. More specifically greenenergy.
"The next bubble to burst will be energy, with green energybeing first. The value of generation facilities is overrated and infive to six years we could see this bubble burst," Davidbelieves.
The factors that he bases his statement on are primarily thefact that investments in green energy are encouraged through asystem of compensation in order to make them attractive,considering that green projects require rather expensivetechnology.
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