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The report looked like good news for European governments. Private investment into renewables in the European region totalled $94.4bn, about $20bn more than in 2009, and more than any other world region.
Germany and Italy both surged, with more than 100 per cent growth in investment in small-scale solar installations.
When Germany announced its plan to phase out nuclear power stations last month, shares in the big four German power companies rose. The agreement made with the German government would see Eon, RWE, EnBW and Vattenfall pay a nuclear-fuel rods tax of €2.3bn until 2016 – but the market had been expecting worse.