IEA: Europe's Thermal Power Sector 'Uninvestible'

GALWAY, IRELAND--July 30 , 2014 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) The European thermal energy market has been branded 'almost uninvestible' by the chief economist of the International Energy Agency (IEA).

Despite Europe needing up to 100-gigawatts (GW) of thermal power in the coming decade to back-up the growing amount of renewable energy and the closure of older plants, the thermal sector is not attractive to investors, warned chief economist, Fatih Birol.