Green energy on a roll but experts warn of bubbles

[Dover]

GENEVA (Reuters) - Investors betting on renewable or clean energy and related green themes are looking for healthy and sustainable returns, but the road is full of pitfalls for the unwary, investment managers warned on Thursday.

Attendees at the Jetfin Green 2009 alternative investment conference in Geneva heard that some alternative energy sources are now in a position to compete with more established sources, even in the absence of government subsidies.

"Renewable energy technologies are at a point where they are cost competitive with the grid, Copenhagen aside," said Walther Lovato, a portfolio manager at California-based asset manager Passport Capital.

He was referring to a summit to be held in Copenhagen in December, when world leaders will attempt to agree a new global climate treaty to replace the Kyoto Protocol that expires in 2012, potentially leading to more subsidies for green energy.

cont'd

http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE58G4KE20090917