Will the international finance crisis influence the GreenTower project adversely?
The advantage of the present financial crisis is the determination of the US Federal Reserve Bank to keep interest rates low, which forces other countries to do the same, facilitating the financing of GreenTower power stations. The stricter credit control will not impede GT project finance, as the power stations will be backed by state guarantees. The investors above will therefore not have to use their own capital so that to them the CO2 certificates will be cost-neutral. Another advantage is that the sliding US dollar forces China, Japan and the oil producing Arab countries to get rid of their huge dollar reserves and to invest it preferably in (their) infrastructure, where the GreenTower’s low cost of power, large-scale job creation, cheap water desalination, rewarding agricultural production and high CO2 sequestration are irresistible incentives. Q.49. Why is the German Federal Ministry of the Environment (BMU) now opposed to the GreenTower, whilst the government formerly supported
