According to Igor Akhmerov, chief executive officer of Avelar Energy, "adjusting the strategy is caused by both considerable interest in alternative energy shown by more new markets and significant downsizing in governmental incentives for clear energy in the European Union caused by the recession".
The Avelar Energy
executive emphasized that "rapid downsizing in governmental incentives in the EU is becoming a very acute problem for it is government subsidies that boosted European alternative energy development for long and they were built in long-term business plans of the entirety of the industry players, with our company among them".
says that the first step under the new strategy will be a gradual exit of Avelar Energy
from a number of minority-owned European companies, particularly Aión Renewables
, an Italian company with 28% of stock controlled by Avelar Energy